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Budget 2018: Stamp duty abolished for shared ownership FTBs up to £500,000

Chancellor Phillip Hammond today announced that stamp duty will be abolished for all first-time buyers using shared ownership.

Delivering his 2018 Budget, the chancellor added that he would make the relief retrospective, applying to any FTB who has purchased a property since the last budget.

Beginning a series of announcements related to the housing market, Hammond said “we can’t resolve the productivity challenge or delivery the high standard of living the British people deserve without fixing our housing market.”

Hammond says 121,500 FTBs have already benefited from the abolition of stamp duty up to a limited value as announced in the Spring Statement and that the number of FTBs is at an 11-year high.


Budget 2018: Brexit budget upped to £2bn

Chancellor Philip Hammond has increased Brexit preparation funding by another £500m in the 2018 Budget today. After allocating an initial £2.2bn to a new Brexit preparations department, Hammond noted said in last year’s Budget that a further £1.5bn for the purposes in last year’s budget. Today he announced that figure will rise to £2.0bn. Hanmond says […]

Piggy Bank With UK Purse

Budget 2018: Private residence relief rules tightened

In the 2018 budget, the chancellor has confirmed that from April 2020, the rules regarding private residence relief will be tightened. Private residence relief is designed to protect taxpayers from capital gains tax when selling their homes Talking in the House of Commons, chancellor Philip Hammond said that, “Mr Deputy Speaker, we recommit today to […]


“BTL is not dead – just more professional”: MS Leaders

The buy-to-let market will become more professional with ‘dinner party’ landlords edged out, according to a panel of experts at the Mortgage Strategy Leaders Forum. The panel were unanimous in their opinion that changes to the buy-to-let tax regime coupled with new rules about portfolio sizes and, more recently, houses in multiple occupation would see […]

Tackling the housing crisis will take more than money

The latest housebuilding figures from the Department for Communities & Local Government confirm the worst fears of many within the property industry. We are failing to address the housing shortage in any meaningful way. Let’s look at the number of housing ‘starts’, new housing projects where work has begun. In England, work has been started […]


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