First-time buyers face stamp duty hike under Labour – how much will it cost to get on the property ladder?

Labour has confirmed it will reduce the first-time buyer stamp duty exemption threshold if it forms the next government. We reveal how this policy could hit the housing market.

Moving house
Labour has confirmed it will reduce the first-time buyer stamp duty exemption threshold if it forms the next government
(Image credit: Getty Images)

First-time buyers could face paying more stamp duty under a Labour government.

A Labour Party spokesperson has confirmed that, if it forms the next government after this week’s general election, the first-time buyer stamp duty exemption threshold will drop back to £300,000.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.