Orbit Homebuy Agents have seen a surge in first time buyers beating the chancellor and avoiding paying stamp duty on their new home, by making sure they have their foot firmly on the property ladder, before the "stamp duty holiday" ends in March.

Orbit HomeBuy Agents saw a record one hundred and seventy five new homes go through to completion last month through HomeBuy - the government's affordable housing scheme.

The stamp duty holiday, which ends on 24th March, means first-time buyers are free from the 1% stamp duty on homes costing under £250,000.

Karen Coleman, Head of Orbit Homebuy Agents said they'd seen a big increase in applications from aspiring home owners, keen to open the door to their new home, before the end of March, to avoid paying the tax.

Karen said: "Lots of our first time buyers who bought their homes through the HomeBuy Scheme have come back to us, saying they've saved a lot of money by getting in early and not having to pay stamp duty. 

"Many of our applicants say until they heard about HomeBuy they didn't think they'd ever to able to afford their own home and that they'd be renting forever.  They've been amazed at how affordable buying a house is and the stamp duty holiday has been an extra bonus for them.

FirstBuy is one of the products which allow buyers to purchase brand new homes for a minimum of 80% of the market value. Equity loans of up to 20%, which are interest free for the first five years, are provided jointly by the house builder and the government.

Karen adds: "One family say they've saved around £1,000 by getting in before the end of March. They were over the moon as this means they've been able to afford the dining room furniture they had their eye on."

If you'd like to find out how to get on the property ladder and beat the chancellor contact Orbit Homebuy Agents on 03458 50 20 50.