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Northern Ireland home buyers to pay bigger deposits, but could get a stamp duty holiday

Northern Ireland's four main banks are asking for higher deposits from home buyers in response to the economic impact of coronavirus.

Banks and other lenders are offering lower 'loan to value' (LTV) deals - partly in a more cautious approach to guard against a fall in house prices.

In a move to stimulate the UK market, Chancellor Rishi Sunak is tipped to announce a stamp duty holiday in a summer update on Wednesday. Speculation suggests that he would move the lower threshold from £125,000 to somewhere between £300,000 and £500,000.