Stamp duty land tax is also a London problem

Getting on the property ladder is getting harder and harder for young people.

Dwindling housing supply coupled with growing demand for property has left sellers receiving offers significantly above the asking price, with squeezed buyers turning to family members to fund ballooning deposits.

But the costs do not end when the keys are handed over. Buyers must also dig into their pockets to pay solicitor, mortgage and broker fees among other costs, leaving many bled dry at the end.

First time buyers in England and Northern Ireland do get granted one monetary relief, the exemption from paying stamp duty land tax (SDLT).

But many young Londoners are unlikely to benefit from the tax relief , and no change to the system has been confirmed ahead

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