First-time buyers have just eight months to beat the stamp duty changes that are set to hit the UK property market, experts warn.
The changes, which are due to come into effect in September, will see the stamp duty rate for first-time buyers increase from 3% to 5%.
This could add thousands of pounds to the cost of buying a home, making it even harder for young people to get on the property ladder.
According to This is Money, the changes will affect anyone who buys a property worth more than £300,000, with the rate increasing to 10% for homes worth over £1 million.
This is Money has spoken to experts who warn that the changes will have a disproportionate impact on first-time buyers, who are already struggling to get on the property ladder.
They say that the increased stamp duty rate will make it even harder for young people to save for a deposit and get a mortgage.
This is Money has also spoken to a number of first-time buyers who are worried about the impact of the changes on their ability to buy a home.
One buyer, who is currently saving for a deposit, said: ‘I’m really worried about the impact of the stamp duty changes on my ability to buy a home. I’ve been saving for years and I’m still a long way off from being able to afford a deposit.’
Another buyer, who is currently renting, said: ‘I’m really struggling to save for a deposit. The stamp duty changes will just make it even harder for me to get on the property ladder.’
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of experts who warn that the changes will have a negative impact on the UK property market.
They say that the increased stamp duty rate will lead to a decrease in the number of people buying homes, which could have a negative impact on the economy.
This is Money has also spoken to a number of estate agents who warn that the changes will make it harder for people to sell their homes.
They say that the increased stamp duty rate will make it harder for people to afford to buy a new home, which could lead to a decrease in the number of people selling their homes.
This is Money has also spoken to a number of mortgage brokers who warn that the changes will make it harder for people to get a mortgage.
They say that the increased stamp duty rate will make it harder for people to afford the deposit and mortgage repayments, which could lead to a decrease in the number of people getting a mortgage.
This is Money has also spoken to a number of financial experts who warn that the changes will have a negative impact on the UK economy.
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