Revise/Abolish stamp duty rules for first-time property buyers.

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Revise/Abolish stamp duty rules for first-time property buyers.

Petition Details

First time buyers (FTBs) should not have to pay stamp duty, the legacy agreement whereby this tax was relieved for FTBs should be reinstated. This would alleviate the financial challenges that FTBs face when attempting to get on the housing ladder which is further exacerbated in the South East

Additional Information

There have been Government schemes introduced that are supposed to offset/assist FTBs entering the market however these are grossly prejudice to the London area and elsewhere in the UK. Outer Fringe areas of London have inflated housing markets due to their attractive location for commuting but schemes like the Help-to-Buy & Save-to-Buy have limits of £250,000 which is significantly below the average house price in areas such as Essex.

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