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Council tax cut for first-time buyers

20-Apr-2009

First-time buyers are to get a "helping hand" from banking giant Halifax with a new scheme that will halve Council Tax Bills.

Jaedon Green, head of mortgage development at Halifax, said they were "committed to helping making moving easier for both home movers and first-time buyers."

He added that the new offer which would mean Halifax paid 50 per cent of the first annual council tax bill, up to a maximum of £1,000, was "specifically designed to give a helping hand".

The council tax offer, which begins today, could save homeowners an average of £400.

Prospective first-time buyers who are struggling to get on to the first rung of the property ladder could find the offer especially helpful.

According to Halifax, the average council tax bill in Britain has grown by 120 per cent in 13 years.

This positive news for would-be homebuyers comes at the same time as the news that houses are at their "most affordable" for almost seven years.

The Halifax Affordability Review showed that since 2007, affordability had improved in all regions of Britain.

Nationwide's House Price Index for March showed that house prices were almost 16 per cent lower than figures from a year ago.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

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