Low mortgage rate offers needed by first time buyers.

First time buyers could be in need of more low rate mortgage deals as the stamp duty holiday comes to an end.

As the March 24 deadline for the end of the stamp duty holiday draws near, first time property buyers may need improved lender rates to cover increased costs from March 25.

There is however some positive news, a weak property market has an upside in that it creates more stamp duty free housing.

Research by FindaProperty.com reveals that currently 20 per cent of property now for sale is at prices lower than the £125,000 stamp duty threshold.

These figures show that perhaps low rate mortgage deals won't be the deciding factor in whether first time property buyers can continue to afford property after the stamp duty holiday ends.

For the past two years the exemption scheme excused first time property buyers from paying stamp duty on the purchase of their first home, as long as it cost under £250,000.

Research reveals that as house prices have fallen, around a fifth of property for sale is below the price level to incur stamp duty. This applies whether the buyers are first-time or home-movers.

Research also reveals that buyers in the North of England have a better chance of finding property below the stamp duty threshold. Yorkshire and the North West all have more than 30 per cent of property for sale at less than £125,000.

Samantha Baden who is a property analyst for FindaProperty.com has said that their research shows first time buyers can be reassured that the end of the stamp-duty holiday does not necessarily mean paying thousands more for a property.

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