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Quick Move Blog
Tuesday, 29 November 2011
As was widely leaked, the Chancellor announced a few key measures to try to kickstart the housing market and to stimulate house building including:
- Mortgage indemnity scheme to help up to 100,000 people buy homes with 5% deposit
- £400m scheme to kick-start stalled construction projects in England
- 50% discount for social tenants wanting to buy their own homes in England
However, it was also confirmed that the stamp duty holiday for first time buyers, where stamp duty is waived for first time buyers buying a property priced between £125,000 and £250,000, will not be extended beyond the end of March 2012, as the Treasury doesn't think it has been helpful to many first time byers.
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