Yesterday’s announcement by the government, raising the stamp duty threshold from £125,000 to £175,000 for the next 12 months, has been widely welcomed for bringing weeks of speculation surrounding stamp duty to a close. The initiative is part of the government package to get the housing market moving again by targeting specific measures to improve the lot of first time buyers, as well as those facing repossessions.

It is estimated that half of all property transactions will now be exempt from stamp duty - up from one third when the threshold was £125,000. Coupled with the new loan system HomeBuy Direct*, introduced today for first time buyers, the hope is that potential homeowners will be encouraged back onto the housing ladder. For many this news will be the incentive required to take on the commitment of a new mortgage.

To make the process as stress and trouble free as possible Forces Financial’s free** independent mortgage experts search the whole market to provide advice on the most appropriate mortgages that meet their clients’ personal requirements. Forces Financial guarantees fast independent expertise delivered in a way that suits their clients’ lifestyles, providing face-to-face advice at home, the office or over the telephone. As a further incentive Forces Financial clients will receive £100 cashback upon the completion of mortgages arranged through their approved solicitors.

For more information or to arrange an appointment
Call: 0870 837 5724

*Under the new loans system, HomeBuy Direct, households in England earning less than £60,000 will be offered free five year loans of up to 30% of a new property’s value for five years, co-funded by the state and developers. Once the five-year "free" period is up, homebuyers will be asked to pay a fee, details of which are yet to be provided.
** Although Forces Financial’s advice and recommendations are free a fee maybe charged for arranging the mortgage