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Our first time buyer solicitors discuss the cash gifts given by grandparents during the stamp duty holiday, and first time buyer conveyancing. 
Throughout the stamp duty holiday that has been in place over the last 15 months, new reports have shown that grandparents have shared a huge £437 million with their younger relatives. 
 
Many young people and first time buyers have scrambled to buy a house in the last year, and make the most of the government’s stamp duty holiday, which has seen property buyers save up to £15,000 on their property purchase. 
 
Our conveyancing solicitors have kept up to date with the stamp duty holiday throughout its time, most recently discussing the end of the stamp duty holiday on September 30th, and discussing what effect this might have on the property market going forward. 
 
However, throughout the time of the stamp duty holiday, older home owners shared around £1 million per day with their younger relatives and family members, allowing them to make use of the tax holiday before it was too late. 
 
As a result of this, property purchases and the payment of house deposits hit a record high in June of this year, with £40.838 million being put down in house deposits on this month. 

How will the end of the stamp duty holiday affect the property market? 

Despite the sudden flurry of activity from grandparents and older generation to help with getting their younger relatives on the property market, property experts don’t see this slowing down any time soon, stating that ‘the end of this incentive is unlikely to dim this appetite’ of grandparents to help their loved ones purchase a property. It is also important to note that despite the end of the stamp duty holiday, first time buyers still pay no stamp duty on properties up to the value of £300,000. 

Contact our first time buyer solicitors today: 

While many first time buyers have the help of grandparents and other family members when they’re taking the first steps in buying their property, it is still a big step, and a long and daunting process, which requires the help of a specialist first time buyer to help and assist. 
 
Here at MG Legal, we have a specialist team of first time buyer solicitors, who are on hand to assist you with the process of buying your first property. 
 
We will take care of the legal side of things, ensuring that everything is done properly and in accordance with legal requirements, to ensure that there are no delays or problems throughout your property purchase. 
 
Our first time buyer solicitors also specialise in online conveyancing, which means that you can work with our first time buyer solicitors from anywhere across England and Wales, from the comfort of your own home, while have regular contact with your conveyancing solicitor over email, over the phone, or by video call, whichever works best for you. 
 
We really go above and beyond to cater to our clients, and offer a tailored service to each one, depending on what works best for them and their schedule. 
 
Our team of conveyancing solicitors pride themselves on being honest, friendly, and approachable, and speak to our clients like real people in an easy to understand way, rather than the legal jargon associated with many more traditional solicitors. 
 
If you have any questions for your designated first time buyer solicitor throughout the conveyancing process, they will be ready and available to answer any questions or queries that you have, right away. 
 
To speak to a first time buyer solicitor today, and learn more about how we can help with your property purchase, simply contact us online today here, and speak to a conveyancing solicitor within one working hour. 
 
Our team offer all of our services at a clear, fixed-fee rate, and our clients never encounter hidden fees or extra costs throughout the process, see a full collection of our properly conveyancing fees, here. 
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