Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it
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Tuesday, 22 September 2009 08:32 |
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The temporary raising of the stamp duty threshold has benefitted almost one in three homebuyers, according to new research from the Halifax. As a result of the increase since September last year from £125,000 to £175,000, up to 112,000 homebuyers in England and Wales, 31% of all buyers, have been exempt from paying the duty and more than a quarter (27%) of first-time buyers.
However, with house sales at historically low levels, the numbers benefiting from the increase in the threshold have been significantly lower than would have been the case in other years. "This has been a boost to many people in a very difficult economic climate," said Martin Ellis, housing economist at Halifax.
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