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Whitton House
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Newark
NG24 1EA

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Stamp Duty Cuts Have Saved First Time Buyers £284M

stamp duty changes

The changes introduced by the government mean that if you are a First Time Buyer purchasing your first home for under £300,000 you no longer have to pay Stamp Duty. If, you are purchasing a home for up to £500,000 you will also benefit from a Stamp Duty reduction.

Unsure if You Are a First Time Buyer?

To qualify for this tax relief from the government you must never have owned a residential property in the United Kingdom or abroad.

You must also be buying your main home you are not able to receive the Stamp Duty relief on a buy-to-let property.

If you have inherited a property or have been names on the deeds of any property this will class, you as an owner so you would no longer be eligible for the Stamp Duty Relief.

Buying with a Partner?

If you are a married couple you both need to be a First Time Buyer to qualify for the Stamp Duty Relief.

If you are unmarried and only one of you is a First Time Buyer that person would be eligible however, only that person could be on the mortgage which could change your affordability.

The Stamp Duty Relief was extended due to the success of the scheme and the number of First Time Buyers who have been able to get on the property ladder. Like with other government funded incentives such as Help to Buy this tax relief could change at any time.

If you are thinking of buying your first home and are unsure of your options, we can help you to find the right mortgage to suit your individual financial circumstances. To find out more give us a call or use the contact form below.

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We'd love to help you buy your perfect home in Newark! To chat to one of our friendly advisers, book your free consultation today... ⬇️

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Book a FREE Consultation!

We'd love to chat to you about finding you the perfect mortgage for your needs. Click below to book your free consultation with one of our expert advisers.

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Ellen King

Absolutely delighted with the service we received from Dean. The advice we received was timely and thorough; the service provided went above and beyond our expectations compared to other mortgage advisors we have used in the past and the whole application process was made straightforward and stress free. Overall, an excellent value for money service that I would highly recommend.


Ellen King

BB Mortgages
2019-09-04T15:53:10+01:00

Ellen King

Absolutely delighted with the service we received from Dean. The advice we received was timely and thorough; the service provided went above and beyond our expectations compared to other mortgage advisors we have used in the past and the whole application process was made straightforward and stress free. Overall, an excellent value for money service that I would highly recommend.

Miss Knight

We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure working with you.  What is known to be a stressful time has been very smooth and I have yourselves to thank for this.


Miss Knight

BB Mortgages
2016-03-22T17:24:36+00:00

Miss Knight

We would like to take this opportunity to thank you for your efforts in making it possible for us to purchase our first property.  You have been brilliant and your services have been friendly, helpful, swift and professional.  We cannot thank you enough and it has been an absolute pleasure working with you.  What is known to be a stressful time has been very smooth and I have yourselves to thank for this.

Mr L

Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

BB Mortgages
2016-09-13T12:38:09+01:00
Mr L hadn’t sold his house but had found the house of his dreams, we arranged a mortgage that allowed him to buy his new house without selling and a mortgage that was flexible enough for him to pay a large amount off when he sells his house.

Miss G

Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

BB Mortgages
2016-09-13T12:43:22+01:00
Miss G sold her house and had found a new house, it all looked straight forward but she had a historical bankruptcy which meant lots of lenders were declining her. We found her a mainstream high street lender that would offer a mortgage even with her previous bankruptcy.

Mr W

Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

BB Mortgages
2016-09-13T12:48:10+01:00
Mr W works abroad but wanted to buy a buy to let property, most lenders will require him to own and live in in a mortgaged property in the UK, however we found a lender that would lend at sensible interest rates for a new buy to let purchase.

Mr C

Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with sensible fees and interest rates.

BB Mortgages
2016-09-13T12:49:06+01:00
Mr C wanted to buy a student house in Lincoln via a limited company to take advantage of the income tax benefits of this. He spoke with other brokers and high street lenders all of which said it wasn’t possible. We found a building society who specialise in this with sensible fees and interest rates.
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