The Chancellor, Rishi Sunak, handed the UK some positive news last week (particularly those in the market for first time buyer mortgages) after announcing that ‘generation rent’ is to be replaced by ‘generation buy’.

The claim follows the government’s decision to extend the stamp duty holiday to 30 June from what was scheduled to conclude at the end of this month. It will then be tapered from 1 July until the 30 September.

What does this mean? Well, it means that the current tax break on the first £500,000 will remain in place until 30 June. It will then be halved to £250,000 from 1 July to 30 September. Then, from 1 October, the full stamp duty measures will be put back in place.

This is, of course, good news for those who were planning on applying for a mortgage before the stamp duty holiday ends. It’s also good news for those who are currently in the process of buying a property, but who may just have completed after 31 March, which would have perhaps incurred charges that the buyer was aiming to avoid.

And, of course, the Chancellor’s decision is also likely to be welcomed by anyone looking to get a mortgage today, as it means that there is now an extra amount of time available to cover the mortgage application process and any chain-related issues that often impact the sale and purchase of a property.

So, if any of the above descriptions accurately describe you – or if the outcome of the Budget has acted as a tipping point and given you the certainty you needed to make your first – or next – move, then the next bit is simple.

If you are looking to apply for a first-time buyer mortgage, or if you simply want to take advantage of the stamp duty holiday before it ends, then contact the Complete Mortgages team on 01483 238280 or email

Remember, whilst we are first time buyer mortgage specialists, we are also buy to let mortgage specialists, equity release mortgage specialists and commercial mortgage specialists, too.