Tuesday, January 24, 2012
Category:
Finance News
The National Association of Estate Agents (NAEA) is currently reminding first time buyers that the Government’s holiday on Stamp Duty Land Tax will cease on Saturday 24th March. After this date, first time buyers will have to pay tax of 1 percent on property purchases between £125,000 and £250,000, and 3 percent on purchases in excess of £250,000.
Recent NAEA figures have shown that the number of first time buyer sales per branch increased slightly in November and December, from 19 percent to 21 percent. Nevertheless, first time buyers continue to make up a small proportion of total property sales. In fact, the number of first time buyer sales reportedly fell to a three-year low in October at just 16 percent of sales.
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Homeowners who have recently purchased their first property and are looking to fund home improvements could consider taking out a secured loan. One of many finance options available,
secured personal loans can enable borrowers to embark upon a number of projects – whether they are required or simply desired. For example, borrowers could rectify any problem areas and then put their personal stamp on their new property by way of redecoration and refurbishment. Borrowers who would like a little extra living space could even invest in a conservatory or extension. A homeowner loan could finance the home improvements required to transform a new house into that ideal home.
