One key change during the Chancellor Phillip Hammond’s Autumn Budget on Wednesday 22nd November 2017 was the threshold for first time buyers purchasing their first home being raised to £300,000 for properties purchased up to a price of £500,000 in England & Northern Ireland.
It is important to add that all parties must be first time buyers to take advantage of this change, i.e. if a property is being purchased jointly by two applicant, one a first time buyer and the other a previous property owner, this change would not be valid.
