Martin Lewis revealed on Twitter on Wednesday that stamp duty would be cut immediately. The This Morning star tweeted: "Stamp duty cut IMMEDIATELY. No stamp duty paid on homes up to £500,000 (currently £125,000). That's huge. Runs until 31 March 2021."
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He added: "That will help many, but not first time buyers with sub 10% deposits who simply will struggle to get mortgages."
Needless to say, many of Martin's followers had questions, and flocked to Twitter to ask the money saving expert the likes of: "Why will it affect mortgages for first time buyers?" and "Does this mean you still pay the full amount of stamp duty you would have already if you buy a property over £500k? Or it will be proportional i.e. you’d only pay stamp duty on the amount over £500k?. "
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Since his initial tweet, Martin has shared a reaction video to the news, which was announced by Chancellor Rishi Sunak during his summer statement address earlier in the day. The 48-year-old's full response can be viewed here.
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Martin shared the news on Twitter
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Lockdown has been a busy period for Martin, who has been dedicated to keeping his followers clued up throughout the economically uncertain time.
But on Monday, Martin and his wife Lara Lewington were finally able to enjoy some downtime, and ventured out for their first date night together since lockdown restrictions were put in place.
The TV star explained on Twitter that they opted for a weekday outing to the pub in order to avoid busy crowds over the weekend when restrictions were eased.
"Going out for dinner with Mrs MSE tonight, in a lovely pub garden," he tweeted. "Very exciting. Our first for months (we stayed home this weekend, preferred to save it for a quieter evening). Time for dinner, crosswords (same books, who can fill the most in) and each other's company."
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