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Derek,

You do not appear to grasp the function of the marginal increase in the cost of the property 90/95% of which will be funded by borrowing and the removal of SDLT which otherwise would have been funded by cash.

A .3% increase in a property @£260k house will be £780 which will require an increase in the deposit of £78/39 but will have a reduction in SDLT of £3000.

The net reduction in the cash needed for the purchase is therefore (on a 90% LTV) £2922.

Now I don't know about you, but that seems like a pretty significant saving for a FTB to me.

This change (other than a marginal change in the rate of increase in the value of our house) make no difference to me.

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