Tag: first time buyers
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Costly Oversight: Call of Duty
Research from TSB highlights that many buyers, especially first-time buyers, neglect to budget for Stamp Duty Land Tax (SDLT) costs, with about a quarter overlooking this expense. This miscalculation significantly affects their financing, as SDLT can consume 10-15% of their total deposit. Compliance with regulatory standards requires firms to provide clear SDLT calculations to clients.
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2013 Purchase and Remortgage Conveyancing Numbers Revealed
The CML have today issued a press release relating to information to First Time Buyers. I stumbled across the following information data which reveals the number of purchase and remortgage conveyancing transactions in 2013. That’s nearly one million transactions where a CML Part 2 or BSA requirements applied.
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When is a first-time buyer (FTB) not a first-time buyer?
The Chancellor’s plan to eliminate stamp duty for first-time buyers under £250,000 could invigorate the housing market, but its effectiveness hinges on the definition of “First Time Borrower.” Restrictions may complicate eligibility, causing confusion and delays for buyers needing to confirm their status before benefiting from the relief.