U.K. Cuts Stamp Duty for Some First-Time Homebuyers

The video discusses the challenges faced by young first-time home buyers, particularly the upfront cash required. The government has invested £10 billion in the Help to Buy equity loan scheme. Additionally, a new measure abolishes stamp duty for first-time buyers on properties up to £300,000, with partial relief for properties up to £500,000 in high-price areas like London. This initiative aims to support 95% of first-time buyers, with 80% paying no stamp duty.

What is the maximum purchase price for which stamp duty is being abolished for first-time buyers?

What percentage of first-time buyers will pay no stamp duty at all from today?