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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.

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