The move will save four out of five first-time buyers up to £5,000. The stamp duty cut was among a raft of measures designed to provide more homes and reverse the recent decline in home ownership. A consultation on a new policy to encourage planning permission for schemes with a high number of homes for first-time buyers or affordable rent. Later he also introduced a payment holiday for first-time buyers. The new rules will affect first-time buyers in England, Wales – until April 2018 – and Northern Ireland.

Source: The Guardian November 22, 2017 14:17 UTC