The government has cut Stamp Duty Land Tax, so what exactly does this mean for first-time buyers?

Stamp Duty Land Tax has been cut in new growth plans announced by the Chancellor to help buyers on all levels of the property market, saving the average buyer in England £2,500 in tax on a home purchase and lifting up to 200,000 homebuyers every year out of paying the tax altogether. Kwasi Kwarteng, the Chancellor of the Exchequer, said on Friday, September 23: "Economic growth isn't some academic term with no connection to the real world. It means more jobs, higher pay and more money to fund p