Martin Lewis issues ‘act now’ warning to first-time buyers

Lucy Leeson

October 31, 2024 at 6:13 p.m.·1 min read

Martin Lewis has urged first-time buyers looking to get on the property ladder to act now, in a bid to save money on stamp duty.

First-time buyers are currently exempt from paying stamp duty on properties priced up to £425,000.

If a property is more expensive they only pay tax at 5 percent on the portion above £425,000 and up to £625,000.

The lower limit for the first-time buyer stamp duty exemption was temporarily increased in 2022, but the chancellor has now announced it will revert to £300,000 in April.

Speaking on a Budget special of The Martin Lewis Money Show on 31 October, he urged: “If you’re looking to buy now, you want to get it done before next April as it is going to get a lot more expensive.”

Moneywise
NFL star Odell Beckham Jr., who took his $750,000 salary in bitcoin back in 2021, pokes fun at naysayers
Let the gloating begin.
The Motley Fool
Billionaires Are Selling Apple Stock and Picking up This TSX Stock Instead
Billionaires like Warren Buffett continue to trim stakes in Apple stock, with others picking up this long-term stock instead. The post Billionaires Are Selling Apple Stock and Picking up This TSX Stock Instead appeared first on The Motley Fool Canada.
Fortune
Apple went public 44 years ago—what your $10,000 investment would be worth today
Apple has become the largest company in the world, becoming the world’s first firm to reach a $3 trillion valuation in 2022.
People
Teen Refuses to Pay Parents' Mortgage After They Took Money from Her Savings Without Permission
“[My mom] said, ‘Your money is our money, and you’re getting the house when we die, so what’s the problem?,’ ” the teen recalled
The Motley Fool
Invest $15,000 in This Dividend Stock, Create $5,710.08 in Passive Income
This dividend stock is the perfect option if you're an investor looking for growth, as well as passive income through dividends along the way. The post Invest $15,000 in This Dividend Stock, Create $5,710.08 in Passive Income appeared first on The Motley Fool Canada.
GOBankingRates
10 Genius Things Warren Buffett Says To Do With Your Money
Warren Buffett is arguably the best-known, most-respected investor of all time. Buffett is also known for his folksy charm and his memorable quotes about the art of investing. Read Next: Warren...
The Motley Fool
1 Canadian Stock Ready to Surge Into 2025
There is a lot of uncertainty about the market in general as we move closer to the following year, but some stocks are expected to ride their bullish momentum into the new year. The post 1 Canadian Stock Ready to Surge Into 2025 appeared first on The Motley Fool Canada.
Insider Monkey
Why BCE Inc. (BCE) Is the Best Stock to Invest in After Being Beaten Down?
We recently published a list of 15 Best Beaten Down Stocks to Invest In. In this article, we are going to take a look at where BCE Inc. (NYSE:BCE) stands against other best beaten down stocks to invest in. As per Charles Schwab, 2025 might bring hurdles for stocks in the form of uncertain trade […]
The Motley Fool
This 6% Dividend Stock Is My Top Pick for Immediate Income
This Canadian stock has resilient business model, solid dividend payment and growth history, and a well-protected yield of over 6%. The post This 6% Dividend Stock Is My Top Pick for Immediate Income appeared first on The Motley Fool Canada.
The Motley Fool
A Canadian Bank ETF I’d Buy With $1,000 and Hold Forever
This unique Hamilton ETF gives you 1.25x leveraged exposure to Canada's Big Six bank stocks. The post A Canadian Bank ETF I’d Buy With $1,000 and Hold Forever appeared first on The Motley Fool Canada.
The Motley Fool
Is South Bow Stock a Buy After its Split From TC Energy?
Let’s see if South Bow stock's current valuation makes sense. The post Is South Bow Stock a Buy After its Split From TC Energy? appeared first on The Motley Fool Canada.
GuruFocus.com
Nvidia Poised to Hit $250 Share Price by 2025, Analyst Predict
Nvidia Eyes Major Milestone, Analysts Predict Market Value to Surpass Apple
CBC
Gift card scams are out there. A cybersecurity expert says there are ways to protect yourself
Every holiday season, you hear about it: Gift cards that have a zero balance, even though they've been loaded with money for a gift. It's a scam. The CBC's Dale Molnar spoke with a cybersecurity expert about the tricks scammers use, and what you can do to keep it from happening to you.
Global News
2-month ‘tax holiday’ begins tomorrow, CFIB warns it could be a ‘hot mess’
On Dec. 13, the Liberal government will officially implement it’s two-month “tax holiday,” where the goods and services, or harmonized sales tax will be slashed from dozens of product categories. The incentive, however, could become a “hot mess” for participating small businesses, according to the Canadian Federation of Independent Business (CFIB).
GOBankingRates
4 Reasons Why So Many Investors Voted for Trump
Investors cheered on President-Elect Trump's victory as stocks soared to record highs. The Nasdaq Composite is up by roughly 7% since the election, while Bitcoin recently crossed $100,000 for the...
CBC
Interest rate cut may not be total 'game-changer' but has some Toronto-area homebuyers optimistic
Less than two weeks after buying a new home with a variable mortgage, Madison and Graham Fisk are feeling more confident thanks to yet another Bank of Canada interest rate cut.The Keswick, Ont., couple says declining interest rates mean their dream of a bigger home for their daughter and dog is more financially feasible."We were able to take on that mortgage a whole lot better than what it's been like for the last few years," Graham Fisk said. With the Bank of Canada announcing its fifth consecu
Insider Monkey
Denison’s (DNN) Phoenix Project Could Be The Next Big Hit
Denison Mines Corp is set to take its flagship Wheeler River project to full development, which means the first production could be expected in 2027-2028. The company, holding at least 95 percent of this project, is planning to explore uranium deposits that are high-grade with low environmental imprints using ISR mining. Denison Mines Corp (DNN) […]
The Motley Fool
3 Unstoppable Metal Stocks to Buy Right Now for Less Than $1,000
Gold prices are expected to keep rising or stabilize in the next few months, and the precious metal stocks rising thanks to this catalyst still look promising. The post 3 Unstoppable Metal Stocks to Buy Right Now for Less Than $1,000 appeared first on The Motley Fool Canada.
The Motley Fool
3 Top Red Flags the CRA Watches for Every Single TFSA Holder
The TFSA is perhaps the best tool for creating extra income. However, don't fall for these CRA traps when investing! The post 3 Top Red Flags the CRA Watches for Every Single TFSA Holder appeared first on The Motley Fool Canada.
GuruFocus.com
Pfizer Raises Quarterly Dividend to $0.43, Offering 6.66% Yield
Pfizer Announces 345th Consecutive Dividend Payment with 6.66% Increase

Latest Stories