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Halifax to pay Stamp Duty on 13,000 first time buyer homes

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12/07/2013
Halifax will pay stamp duty for over 13,000 first time buyers in a move to help more people onto the property ladder.

The offer, which finished this week, saw borrowers reimbursed for the Stamp Duty paid on purchases between £125,000 and £250,000 and was available exclusively to first time buyers to help ease the burden of buying their first home. The offer was available for those submitting applications between 30 April and 7 July.

Craig McKinlay, mortgage director, Halifax said: “We’re always looking for ways to support those buying their first home. It’s great that, for so many first time buyers, the additional cost of Stamp Duty is no longer something that they have to worry about and they can use the money saved to add to their deposit if they want.”

To continue its support of first time buyers, Halifax is now offering £500 cash back across a number of first time buyer mortgages, including:
• 75% -80% LTV 2 year fixed rate mortgage 3.24% with no fee
• 80%-85% LTV 2 year fixed rate mortgage 3.79% with no fee

McKinlay added: “We’re keen to help reduce the financial burden at what is an already expensive time. The current £500 cash back offer gives first time buyers the added benefit of being able to use the money how they want, whether that’s towards furnishing their new property or simply to help cover other costs.”

Earlier this year, Halifax’s parent company Lloyds Banking Group announced the UK’s largest commitment to support first time buyers by committing to lend £6.5 bn to help approximately 60,000 customers make their first step on to the property ladder in 2013. In the first quarter of 2013, Lloyds Banking Group helped 13,000 first time buyers get on the property ladder.

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