Stamp duty stance to cost buyers €27m-plus

FIRST-TIME buyers who bought houses between December and April are to lose out on a rebate of more than €27 million because of Finance Minister Brian Cowen’s refusal to backdate a stamp duty exemption to the budget.

Mr Cowen indicated on Budget Day on December 6 that there would be no changes in the stamp duty regime.

However, Fianna Fáil subsequently announced that abolishing stamp duty for first-time buyers would be a key component of its general election manifesto.