We use cookies on our website to improve your experience and understand how our site is being used. By continuing to use our site, you consent to our use of cookies. For more information, please see our Privacy Policy

x
  • My LT Account
  • Buy
      • Our Services
      • London Area Guides
      • Buying News
      • Expert Buying Advice
      • Property Search
      • Register for Property

      MORE OPTIONS

      • Buying Guide
      • Stamp Duty Calculator
      • Customer Reviews
      • London Area Guides
      • Expert Buying Advice
      • About the My LT Account
  • Sell
      • Our Services
      • Customer Reviews
      • Free Valuation
      • Buying? Register for Property

      MORE OPTIONS

      • About the My LT Account
      • Contact Us
  • Rent
      • Our Services
      • London Area Guides
      • Renting Guide to Virtual Viewing
      • Expert Renting Advice
      • Property Search
      • Register for Property

      MORE OPTIONS

      • Renting Guide
      • Guide to Virtual Viewings
      • Renting Explained
      • Customer Reviews
      • Renting Brochure
      • About the My LT Account
      • Tenant Fees Information
      • How to Rent
  • Landlords
      • Our Services
      • Definitive Buy To Let Guide
      • Quarterly Buy To Let Review 2021
      • London Buy To Let Investment Guide
      • Free Valuation
      • Buying? Register for Property

      MORE OPTIONS

      • Buy-To-Let Search
      • Landlord News
      • Customer Reviews
      • Expert Letting Advice
      • About the My LT Account
  • News

      MORE OPTIONS

      • Webinars
      • Buying Property News
      • Renting Property News
      • Selling Property News
      • Buy-To-Let Property News
      • Property Tips
      • Our News
      • ALL News
  • Contact
      • Q & A - Expert Buying Advice
      • Selling? Free Valuation
      • Letting? Free Valuation

      MORE OPTIONS

      • Our Story
      • Press Releases
      • Recommend Us
      • Careers
      • Office List
      • Customer Services
      • Property Management
      • Customer Reviews
  • my LT account
  • Menu
  • Valuation
  • Buy
    • Back
    • Our Services
    • Property Search
    • Buying Guide
    • Stamp Duty Calculator
    • Customer Reviews
    • London Area Guides
    • Expert Buying Advice
    • About the My LT Account
    • Register For Property
    • Winter Property Guide
  • Sell
    • Back
    • Valuation Request
    • Our Services
    • Customer Reviews
    • Expert Selling Advice
    • About the My LT Account
    • Contact Us
    • Winter Property Guide
  • Rent
    • Back
    • Our Services
    • Renting Property Search
    • Renting Guide
    • Guide to Virtual Viewings
    • Renting Explained
    • Customer Reviews
    • Renting Brochure
    • London Area Guides
    • About the My LT Account
    • Tenant Fees Information
    • How to Rent
    • Expert Renting Advice
    • Winter Property Guide
  • Landlords
    • Back
    • Valuation Request
    • Why Choose Us
    • The Definitive Buy-to-Let Guide
    • London Buy to Let- The Investment Guide
    • London Buy-To-Let Review
    • Buy-To-Let Search
    • Landlord News
    • Customer Reviews
    • Expert Letting Advice
    • About the My LT Account
    • Winter Property Guide
  • News
    • Back
    • Webinars
    • Buying Property News
    • Renting Property News
    • Selling Property News
    • Landlord Property News
    • Buy-To-Let Property News
    • Property Tips
    • Our News
    • ALL News
  • Contact
    • Back
    • Our Story
    • Customer Feedback
    • Press Releases
    • Recommend Us
    • Careers
    • Office List
    • Customer Services
    • Property Management
    • Customer Reviews
X

My LT Account


Sign In

Forgotten Your Password?


New Customer

Easily book appointments, add property to your shortlist and many more features.

Register
Useful Links
  • About My LT Account
  • Property Management
  • Contact Us
HomeNews Buying Property News

Almost 140,000 first-time buyers step onto property ladder in 2015

  • by Editorial Team
  • 31st July 2015
  • Buying Property News
  • Almost 140,000 first-time buyers step onto property ladder in 2015 photo 1

Stamp Duty changes have made it more affordable for young professionals to purchase first home


Most young people dream of the moment they are able to move from rented accommodation into a house all of their own. So far in 2015, 139,500 first time buyers have succeeded in this ambition and stepped onto the property ladder. 

First time buyers account for 47% of all mortgage-financed house purchasing. 

The changes to Stamp Duty announced in the Chancellor’s Autumn statement came as welcome news for potential first time buyers as the changes have led to major savings for those buying their first property. 

The reforms made by the Chancellor to the Stamp Duty Land Tax means that buyers are no longer burdened with paying tens of thousands of pounds on top of their initial deposit and other fees, and instead will pay a tax that reflects the property value.

Stephen Ludlow, Chairman of ludlowthompson, explains: “The reforms were aimed at helping young professionals and families onto the property ladder and it has been a success so far.”

Through the stamp duty reforms, Londoners are saving an average of £3,154 on their first home.

Stephen Ludlow adds: “These savings will mean prospective buyers will have more money for the initial deposit on the mortgage, giving them increased flexibility on their mortgage payments - they may decide that a longer-term fixed rate mortgage is the best option for them.” 

The first half of this year has shown signs of increased mortgage activity as the economy continues to recover, mortgages interest rates remain low and the changes in stamp duty create more incentives to buy. It is hoped that these factors could lead to even more first time buyers purchasing their first homes in the next half of 2015. 

The reforms aimed to help young professionals and families onto the property ladder and it has been a success


Share this article
  • Share on Facebook
  • Share on Twitter
  • Share on Linked In

More Buying Property NewsNews

  • Improving the cycling commute in Finsbury Park and beyond

  • Exploring the resilience of the property market amidst economic challenges

  • Why Mortgage Brokers are best placed to find the cheapest mortgage

  • New builds versus older properties in London: the pros and cons

  • Tips and strategies for first time buyers in London

    More recently, the post-pandemic property buying boom has eased and the market has steadied. Despite consecutive base rate rises, mortgage rates have started to come down and inflation is still expected to drop significantly in the second half of the year.

  • »
    More
    Buying Property News

Free & Instant
Property
Valuation

In Just
60 Seconds

Start Valuation

Other top stories

Improving the cycling commute in Finsbury Park and beyond
Photographs matter
The enduring power of the human touch in real estate
ludlowthompson celebrates turning 30
Exploring the resilience of the property market amidst economic challenges

Categories

  • Buying Property News
  • Renting Property News
  • Selling Property News
  • Landlord Property News
  • Buy-To-Let Property News
  • Property Tips
  • Our News
  • Webinars

News Archive

  • 2023

    • Feb
    • Mar
    • Apr
    • May
    • Jun
    • Jul
    • Aug
    • Sept
  • 2022

  • 2021

  • 2020

  • 2019

  • 2018

  • 2017

  • 2016

  • 2015

  • 2014

  • 2013

  • 2012

  • 2011

  • 2010

  • 2009

  • 2008

  • 2007

  • 2006

FREE & INSTANT PROPERTY VALUATION

IN JUST 60 SECONDS


Start Valuation

ABOUT US


  • Our Story
  • Press & Media Centre
  • London Buy-To-Let Review
  • Recommend Us
  • Careers
  • London Estate Agents

LONDON PROPERTY NEWS


  • Landlord Property News
  • Buying Property News
  • Renting News
  • Selling Property News
  • Our News
  • Webinars

PROPERTY TOOLS & TIPS


  • Stamp Duty Calculator
  • Expert Property Advice
  • Rss Feeds
  • Landlord Fees Information
  • Tenant Fees Information
  • Vendor Fees Information
  • Purchaser Fees Information

SAY HELLO


  • Find My Nearest Office
  • Property Management
  • Customer Services
  • Client Money Protection Certificate
  • Client Money Protection Scheme Rules
  • Follow us on Twitter
  • Like us on Facebook
  • Keep up with Ludlowthompson on Linkedin
  • Follow us on Instagram
  • Follow us on Youtube
  • TPOS (The property Ombudsman)
  • Consumer Codes Approval Scheme.
  • NAEA ( National Association of Estate Agents )
  • ARLA ( Association of Residential Letting Agents )
  • Investors In People | Gold
  • All Agents - Best Transparent Agent fo the year 2018

©2023 ludlowthompson.com. All Rights Reserved

Built with passion by Fusion Advertising & Design

Back to Top
Privacy Policy Site Map