First-time buyers should move quickly or miss out , says housebuilder Barratt which is encouraging those in Somerset to make the most of the Stamp Duty holiday which can save buyers up to £2,500.

The Stamp Duty holiday was introduced for first-time buyers in March 2010 and has enabled them to buy homes up to £250,000 without paying the one per cent duty existing homeowners have been liable to pay on homes costing between £125,000 and £250,000.

But from March 24 all buyers will be subject to the same levels which means that homes under £125,000 will continue to attract no duty but those up to £250,000 will have a levy of one per cent added to the purchase price.

Barratt sales director, Andrea Pilgrim, said the Stamp Duty holiday has been an important factor in helping first-time buyers onto the housing ladder and the ending of the holiday has introduced a new level of urgency for buyers.

"Timing couldn't really be more important for first time buyers,'' said Andrea. "The next couple of weeks will be a crucial window of opportunity for those looking to get onto the property ladder without having to pay Stamp Duty.''

She said Barratt is encouraging anyone looking to buy a new home and make the most of the current holiday and make a move as soon as possible.

"There is still time to complete on a new home before the Stamp Duty holiday ends and we have a range of homes, and buying schemes to help first time buyers,'' said Andrea.

Barratt currently has a range of properties in Somerset that are suitable for first-time buyers and fall within the stamp duty holiday threshold. These include the Nashira, at Houndwood in Street, which costs from £229,995.

For details of current availability call 0844 811 1855, or log onto www.barratthomes.co.uk.