A stamp duty holiday!

Forget sunning yourself in the Caribbean this year, the best holiday deal right now is happening in the UK property market with a stamp duty break on all properties sold for under £175,000...

Alistair Darling, the Chancellor of the Exchequer announced after months of speculation, that there will be a 12 month holiday from stamp duty land tax. This move is designed to breathe some life back into the UK property market by encouraging cash strapped first time buyers to take their first step on to the ladder.

Many believe that the reason that the property market has stagnated is because of a lack of first time buyers propelling the market forwards and allowing second and third time buyers to move up the ladder. Darling hopes that this tax break, which came into play on 3 September, will give the market a chance to stabilise and hopefully minimise the economic down turn that he recently predicted.

This holiday coupled with the return of fees free and fees assisted mortgages is causing a stir in the property market that will hopefully spell the end of the slump that the country has been experiencing recently. To take advantage of this 12 month holiday, contact us to arrange your Contractor mortgage today and take advantage of current lower house prices!

To speak to Simon Foster, one of our dedicated mortgage advisers call 0845 062 8888 or email simon@contractorfinancials.com

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