The government has declined to extend the Stamp Duty holiday for first-time buyers as it claims the policy has failed to increase the number of first-time buyers entering the market.
In chancellor George Osborne’s autumn statement today, he failed to extend the Stamp Duty holiday beyond its end date of March 2012, despite calls to do so from industry bodies such as the Council of Mortgage Lenders.
The autumn statement says: “The government is publishing analysis showing that the Stamp Duty land tax relief for first-time buyers has been ineffective in increasing the number of first-time buyers entering the market.
If you are a first time buyer (FTB), then you have until March 2012 to benefit from a stamp duty saving of 1 % up to a purchase price of £250,000.
First Time Buyer
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