Pictured: Sarah Pottle

First-time buyers need to act quickly if they are to complete buying their first home before the Stamp Duty exemption comes to an end on the 24th March 2012.

Sarah Pottle, Property Team Leader at Midlands law firm Challinors, explains: "First time property purchasers could save up to £2,500 under the relief from Stamp Duty Land Tax introduced by the Chancellor in the 24th March 2010 Budget.

"However, first time property purchases have to be completed by midnight on 24th March 2012, after which the rate returns to one per cent of the purchase price.

"Since the tax-break was introduced, first time buyers purchasing a home for less than £250,000 have not had to pay Stamp Duty Land Tax. 

"However, with these benefits due to end in just a few weeks, those wishing to take advantage of the competitive first-time property prices in the current market, and realise the tax savings, need to act quickly. They have to aim for completion of their property purchase before the 24th March, which could save them up to £2,500, depending on the property value."

Estate agency Challinors White & Billingham is one of Halesowen's most respected practices and part of Challinors network of Midlands-wide regional offices. The practice currently has a number of properties up to £250,000, ideal for first time buyers as Jonathan Cooper, its Estate Agency Manager, explains: "We have a number of properties that represent excellent potential first-time buyer starter homes in Halesowen and further afield across the region.

"The last few months have seen stronger mortgage lending activity and housing transactions, according to figures released this week by the Council for Mortgage Lending. First-time buyers thinking about taking their first step onto the property ladder would do well to look at the properties available under the £250,000 threshold, to take full advantage of the slightly more buoyant mortgage lending market, and the benefits of the Stamp Duty holiday, before it ends in March."

Challinors has a resident team of experienced conveyancers and can also offer EPCs, free market appraisals, lettings, and a full range of complementary legal services. The estate agency operates on a no sale/no charge basis. For more information, contact Jonathan Cooper, Challinors White & Billingham, Tel: 0121 550 0481, email: estateagency@challinors.co.uk. For help with property purchases and conveyancing, contact Challinors Sarah Pottle, Tel: 0121 553 3211, email: sarah.pottle@challinors.co.uk.  

Challinors has five strategically-located offices across the Midlands in Birmingham, West Bromwich, Wolverhampton, Halesowen and Nottingham. It has a team of over 200, including 17 partners, over 100 fee earners, and teams dedicated to providing specialist legal services from family, criminal, personal injury, wills, trusts and probate through to corporate, commercial, dispute resolution, employment and property matters, and mediation services. The firm's teams are highly regarded and have received top tier rankings in both the Legal 500 and Chambers UK Directory.