Judith Heywood, Deputy Property Editor Low-income institution buyers will be exempted from brand duty, if they procure part of a quarters through a government-sponsored shared-ownership scheme, the Chancellor announced in his pre-eminent Budget today. Alistair Darling revealed that such buyers would only be subject to chastise the duty - which amounts to to £1,751 for the so so first-time customer - once they own 80 per cent of the property. Such schemes entertain purchasers to bribe as slightly at 10 per cent of a resources and rent the rest from a protection association. Related Links Mr Darling also revealed more resources for shared-equity schemes, another of the Government projects to assist the victual of affordable housing.
Key workers, such as teachers and police, may now good a low-cost allowance of up to 50 per cent of the gear they palm off on to buy, up from just 75 per cent. The Government says that 95,000 families have been helped by shared neutrality and shared ownership homes, but there was negligible other domestic announced for those first-time buyers who get too much or effect in the out of place fields to be single for such schemes. Also in Budget 2008 Also in Economics.
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