Santander Mortgages

First-time buyers have saved hundreds of millions of pounds thanks to the stamp duty holiday which is set to come to an end next month, research shows.

According to Santander, the two-year exemption from stamp duty, which is scheduled to come to an end on 24 March, has collectively saved first-time buyers a staggering £319m in fees, proving that the initiative has helped to boost demand for residential properties nationwide.

Demand for rental accommodation grew at a rapid rate during the second quarter of this year, which is encouraging news for buy-to-let investors, especially as so many of them plan to add to their property portfolios in 2010.

Almost three times as many landlords reported that tenant demand was rising rather than falling during the second quarter of the year, Paragon Mortgages' PRS Trends Report has revealed.