16,000 first-time buyers save thousands from stamp duty changes, govt says

Written by Adam Cadle

Over 16,000 first-time buyers have saved thousands due to the recent stamp duty changes, the government has said.

The stamp duty policy involves a total exemption for first-time buyers of homes up to £300,000. For properties costing up to £500,000, no stamp duty will be paid on the first £300,000.

The government has said the changes mean savings of up to £5,000 for first-time buyers.

Labour has warned however that the stamp duty cut will fuel a surge in house prices

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