First-time buyers urged to act to beat end of stamp duty holiday

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THE CAPITAL’S leading property solicitor is helping first time buyers beat the cost of stamp duty and save on legal fees by offering a cash back incentive on their first property.

Warners Solicitors and Estate Agents in Edinburgh are encouraging first time buyers to purchase a property before the stamp duty holiday comes to an end on the March 24, while also benefiting from an additional financial incentive of £600 to cover the legal costs involved.

The firm has worked in conjunction with the Plain Talking Property  Group of solicitors to launch the ‘first foot initiative’ which will see them highlight suitable properties for first time buyers on the market for between £125,000 and £250,000 – helping them escape the stamp duty of 1% of the purchase price.

Scott Brown said first-time buyers should try and beat the deadline

Scott Brown, estate agency partner at Warners believes that this is the last chance for those first time buyers looking to beat the stamp duty.

He said: “There are many challenges that first time buyers face when purchasing their first property. Luckily in the last couple of years stamp duty has been one challenge buyers have not had to consider. Unfortunately this perk is now about to be abolished leaving the burden to creep back in.

“Average house prices in Scotland’s cities have meant that many people have benefited from this relief. However, with the government admitting they cannot justify continuing with this, buyers have been left in a regrettable situation.

“At a time when money remains tight, finding extra cash in addition to a deposit and other costs can be a major stumbling block for many first time buyers.”

The ‘First Foot Forward’ initiative is a genuine attempt to help first time buyers get a ‘first foot’ on the property market, as well as promoting properties which can help first time buyers make savings before the deadline expires.

Scott added: “Any first time buyers looking to purchase a property for £250,000 or less should ensure that they complete their purchase before the deadline otherwise they will have to pay.

“Hopefully our initiative will give first time buyers the confidence to go ahead and purchase the property they want without succumbing to the woes of stamp duty.”

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