£1000 helping hand for first-time buyers?

first time buyer helping hand

first time buyer helping handThe end of the stamp duty holiday later this month could add to the financial headaches of young parents looking to get onto the property ladder.

From 24 March, first-time buyers will once again have to pay stamp duty if their home is worth £125,000 or more.

However, lenders are beginning to wake up to the situation, and Nationwide Building Society is among those who have pledged to offer extra support to young home buyers.

Through its new cash-back offer, first-time buyers who reserve a mortgage with the organisation could gain £1,000 towards the cost of their stamp duty bill.

As with any financial product, young adults will need to check the terms and conditions of this deal carefully in order to avoid any surprises further down the line.

But the lender is keen to support an "important part" of the UK housing market, according to Martyn Dyson, its head of mortgages.

He stated: "The loss of the stamp duty holiday has been a blow for first-time buyers, as they now potentially have to save more than a thousand pounds on top of a deposit."

If you're keen to take advantage of the stamp duty holiday before it comes to a close, check out this guide to finding the right mortgage.