What Did the Budget Mean for You? ; the Budget Saw a Number of Measures Put in Place Designed to Aid the Property Market, Including the Outlining of a Pounds 250 Million Scheme to Help 10,000 First-Time Buyers Purchase a New-Build Property, and Confirmation of Stamp Duty On Homes Costing Pounds 1m- Plus Rising From 4 Per Cent to 5 Per Cent. We Gauged Reaction Among Local Agents and Property Experts

Birmingham Post › March 31, 2011

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Summary

Andrew Grant of Andrew Grant "An allocation of pounds 250 million to assist first-time buyers is a much needed initiative because the housing market cannot function properly with their absence, which has been the case since lenders put a stranglehold on lending criteria.

Removal of the fuel duty indicator will support the rural property sector, while reduction of corporation tax should stimulate employment, which goes hand in glove with housing market activity."

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Extract

What Did the Budget Mean for You? ; the Budget Saw a Number of Measures Put in Place Designed to Aid the Property Market, Including the Outlining of a Pounds 250 Million Scheme to Help 10,000 First-Time Buyers Purchase a New-Build Property, and Confirmation of Stamp Duty On Homes Costing Pounds 1m- Plus Rising From 4 Per Cent to 5 Per Cent. We Gauged Reaction Among Local Agents and Property Experts

Simon Merton of Strutt & Parker "The offer of a 20 per cent loan on the price of a new build with a five per cent deposit for first- time buyers is an important step by the Government to help stimulate the lower end of the property market which, in the past few years, has slowed almost to a stop.

Joint buyers with a combined income of less that pounds 60,000 will be entitled...

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