Well it appears that the Chancellor has decided to make the Stamp Duty holiday still more complicated by limiting it only to First Time Buyers. Quite how this will be enforced and who will qualify as First Time Buyers is open to debate.

I have yet to see the detail of any definition of first time buyer and as usual the devil is in the detail. I am sure however that there will be unforseen consequences of this being  limited to only one sector of the property market.

For those of you that are reading this the collection of the duty is made by the lawyers acting for the buyer so no doubt the burden of checking who is and who is not a first time buyer will fall on us.

So for those who read my earlier post and who are second time buyers or investors sorry but the stamp duty holiday at this moment in time appears not to be of benefit to you.

If statistics are of interest to you First Time Buyers represent the smallest part of the market(Less than 10%) so do not expect an improvement in the Property Market to soon