First-time buyers applying for a mortgage with Bank of Scotland can benefit from up to £2500 cash back, with the lender covering the cost of stamp duty.
The offer will see borrowers reimbursed for stamp duty paid on purchases between £125,000 and £250,000 and will be available exclusively to first-time buyers across Bank of Scotland’s mortgage range.
Designed to ease the burden for first-time buyers, 1% of the property price will be paid to solicitor on completion.
This means that if a customer is buying a house for £150,000, Bank of Scotland will pay £1500 towards their stamp duty bill.
Analysis conducted by Bank of Scotland shows first-time buyers accounted for 40% of all property purchases in 2012.