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First Time Buyer Update - November 2018

First time buyers will be pleased to hear the news of the First Time Buyer (FTB) Relief which was introducted by the Scottish Government during the summer. 

The FTB Relief introduced by the Scottish Government has effectively raised the threshold at which a first-time buyer would pay LBTT on from £145,000 to £175,000. The good news does not stop there as the FTB relief is extended to those who choose to purchase at above £175,000, with an up to £600 relief being applied on the property purchase portion below £175,000. If you would like an idea of what budget you will need for fees and outlays, please just get in touch and we can give you an indication of costs to allow you to plan. 

If you are a first-time buyer and you are considering a step onto the property ladder please get in touch. We can also provide advice on the LIFT Scheme, Help to Buy (for newbuild properties) and guidance on the benefit of setting up a first-time buyer Help to Buy ISA. 

FDL will also be attending the Bank of Scotland's "First Time Buyer Event" at the Kirkcaldy Mitcheston branch on Thursday 8th November 2018 from 6.30 to 8.30pm. Please give us a call on 01592 640630 or email lauren@fdlegal.co.uk if you would like further information or details.