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2 year high for first time buyer loans caused by end of stamp duty concession say CML
2010 February 12
Loans to first time buyers increased drastically last month as the window for taking advantage of the concession on tax duty for properties in the £125,000 to £175,000 bracket came to an end.
There were 24,900 loans to first-time buyers in Dec 2009 – the highest level since November 2008 and 26% up on the preceding month.
Source: Council of Mortgage Lenders
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It's a shame the government are not continuing this initiative. It is still a tough economy out there and house prices continue to rise. For first time buyers with nothing to sell it can be hard to raise the capital. I am not surprised that those considering purchasing a home have tried to take advantage of this offer.