Halifax has pledged to help mortgage seekers looking to get their foot on the first rung of the property ladder.
The bank announced it will settle half of any first-time buyer (FTB) stamp duty bill for houses valued up to £250,000.
As such, up to £1,250 will be shaved off the costs buyers are required to pay when putting pen to paper on new deal.
Furthermore, the offer is not restricted to first-time mortgage seekers, as it also applies to all movers relocating to premises in the designated value range.
Stephen Noakes, mortgage director at Halifax, noted: “Buying a home is one of the most expensive purchases many will ever make and the costs associated can place an extra burden on homemovers.”
Mr Noakes added that while the last 12 months have seen many FTB initiatives brought to the table, more needs to be done to assists purchasers of all kinds across the market.
Research carried out by the financial institute revealed many individuals could benefit from the new scheme, as almost half of all those who moved home in the first quarter of this year paid between £125,000 and £250,000 to secure a new dwelling.
