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First-time buyers rush to beat stamp duty date

Published 14/02/2012

A scramble to get on the property ladder before the end of a duty concession has sparked a 7% jump in loans to first-time buyers, lenders said.

The withdrawal of the two-year amnesty on stamp duty for first-time buyers purchasing homes worth between £125,000 and £250,000 starts on March 24.

The Council of Mortgage Lenders (CML) said that figures showed its members advanced 18,700 loans worth £2.3bn in December.

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