U.K. Cuts Stamp Duty for Some First-Time Homebuyers
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Business
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University
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Hard
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main challenges faced by young first-time buyers according to the speaker?
Understanding the buying process
The upfront cash required
Securing a mortgage
Finding a suitable property
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the government's initiative to help first-time buyers save for a deposit?
Increased housing supply
Reduced interest rates
Help to Buy equity loan
Temporary stamp duty holiday
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What change did the speaker announce regarding stamp duty for first-time buyers?
A gradual decrease over five years
A temporary reduction
An increase in stamp duty rates
A complete abolition for purchases up to £300,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the stamp duty relief benefit first-time buyers in high-price areas like London?
It offers a discount on all properties
It applies to the first £300,000 of properties up to £500,000
It provides a tax rebate
It reduces property prices
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What percentage of first-time buyers will pay no stamp duty at all due to the new changes?
95%
80%
60%
50%
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