First time buyer

MoneySavingExpert.com founder Martin Lewis explains why buying a home could cost you £1,000s more next year, in the latest episode of ITV's The Martin Lewis Money Show Live. These are the Stamp Duty changes that weren't in the Autumn Budget speech.

First-time buyers paid the Government an estimated £1.8 million in fines for taking money out of their Lifetime ISAs (LISAs), new figures for the 2023/24 tax year show. MoneySavingExpert.com founder Martin Lewis is renewing calls to the Government to stop those who are using LISA savings for their intended purpose – buying a first-time property – having to pay these unjust penalties.

In a blow to first-time buyers – and to MoneySavingExpert.com and its founder Martin Lewis's campaign – there were no changes to the rules on Lifetime ISAs (LISAs) announced in today's Spring Budget. However, while the news is "disappointing", Martin says a shake-up "isn't off the table".  

Renters struggling to save for a deposit can now get a 100% mortgage from Skipton Building Society. It's the first no-deposit deal – that doesn't require a guarantor's backing – to launch in the UK since 2008, and MoneySavingExpert.com founder Martin Lewis says it could be a "sensible" option for some. We explain who can get it, how it works and the risks you need to watch out for below.

Change is needed to help half a million younger people with Lifetime ISAs as many risk lock-out and £1,000+ in fines to get their money back.

According to the latest figures from HM Revenue & Customs, 141,100 first-time buyers have bought properties without having to pay stamp duty, and a further 39,400 have paid a discounted rate in the year since first-time buyers relief was introduced.