Increased Duty Stamps Hard On First Time Buyers ; Personal Finance

Summary


The average stamp duty bill faced by first-time buyers has nearly doubled during the past five years.

People taking their first step onto the property ladder paid average stamp duty of pounds 1,751 in 2007, 82 per cent more than the pounds 960 they paid in 2002, according to Britain's biggest mortgage lender Halifax.

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Increased Duty Stamps Hard On First Time Buyers ; Personal Finance

A north-south divide on the level of the tax paid by first-time buyers is also developing.

The average person buying their first home in London, the South East, South West and...

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