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First-time Buyer

Halifax to pay stamp duty costs for first-time buyers

Joanna Faith
Written By:
Joanna Faith

Halifax is offering to foot the stamp duty bill for first-time buyers purchasing properties up to £250,000.

This is the second time the lender has run such an offer.

Under the terms of the deal, Halifax will pay stamp duty on properties worth between £125,000 and £250,000, reducing a buyer’s costs by up to £2,500.

The lender is also offering £250 cashback to first-time buyer customers who purchase a property below £125,001.

Halifax said last year the offer helped more than 14,000 first-time buyers onto the property ladder.

TSB launched a similar offer in January.

It comes as figures out earlier this week revealed the average house price for first-time buyers is now more expensive than ever before.

LSL said the average purchase price in January 2014 was £155,832, up on the £150,875 figure recorded in the previous month and 16.4% higher than the same point last year.