First-time buyers have saved £284 million in stamp duty since November 2017, according to statistics from HMRC.

In Autumn Budget 2017, the government abolished the property tax for first-time buyers purchasing homes worth up to £300,000 in England and Northern Ireland, and Wales until 1 April 2018.

The first £300,000 is exempt from stamp duty land tax, while the remaining portion of up to £500,000 is taxed at a reduced rate of 5%.

More than 121,500 first-time buyers have benefitted, and the government estimates it will help more than 1 million people get on the housing ladder over the next 5 years.

Mel Stride, financial secretary to the Treasury, said:

"Our cut to stamp duty for first-time buyers is helping to make the dream of home ownership a reality for a new generation - exactly as we intended.

"In addition, we're building more homes in the right areas, and have introduced generous schemes such as the Lifetime ISA and Help to Buy."

We're happy to discuss stamp duty.

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