Henry Smith MP: Stamp Duty Cut helps 240,000 into their First Home

Henry Smith MP has welcomed new statistics which show that changes to stamp duty introduced last year have benefited over 240,000 people, helping more people to achieve the dream of home ownership.

Practical help is being given to first-time buyers, reducing the burden that they face in purchasing their first home. Stamp duty has been abolished for the vast majority of first-time buyers – with eight out of 10 now paying no stamp duty – so almost all will benefit from these changes.

The changes to stamp duty are just one of the steps being taken to fix the housing market, helping people get on the housing ladder and have the security of their own home.

The Government have helped more than 500,000 people get on the housing ladder through schemes such as Help to Buy, which helps first-time buyers with the cost of the deposit for their new home.

 

Henry said;

“It’s fantastic news that first-time buyers in Crawley are taking advantage of the cut to stamp duty to buy their first home.

“This comes on top of the news that home ownership is up for the first time in a decade for 35-44 year olds – more people are being helped on the housing ladder and have a safe and secure home.”

 

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