A loophole preventing some couples benefiting from a stamp duty deal has been closed, Finance Minister Paula Cox announced yesterday.

Bermudians married to non-Bermudians were frozen out of an exemption of stamp duty on homes under $750,000 for first-time buyers, which Ms Cox announced in this year's Budget.

Yesterday, the Deputy Premier said the regulations had been revised following complaints from Bermudians married to foreigners.

"The measure was intended to provide some relief to first time homeowners and to stimulate sales of properties in that price range in these very difficult economic times," she said in a statement.

"The 2009 regulations came into effect on April 1, 2009, and many Bermudian individuals have applied to the Office of the Tax Commissioner for the exemption in respect of their first purchase of Bermuda real estate.

"However, Bermudians married to non-Bermudians have not been able to receive the benefit as one of the conditions of eligibility was that all purchasers that were party to the conveyance of the property had to have Bermuda status.

"The Office of the Tax Commissioner has received a number of queries from couples in this category. Some have sought a review of the policy.

"Upon reflecting further on the intent of the policy which was to assist qualifying Bermudians in making their first real estate purchase, I was persuaded that it was not fair to exclude a Bermudian from the benefit on the basis that he or she was married to a non-Bermudian.

"Accordingly, today I am pleased to announce that the regulations have been amended so that Bermudians with non-Bermudian spouses may apply for the benefit. In the event that all of the other conditions are met — none of which have been changed — then their applications should be successful."

Conditions which must be met to get stamp duty include:

• transactions which meet the criteria for the exemption must be adjudicated by the Tax Commissioner's Office;

• the purchase price must be for the fair market value and must be paid in cash or by way of a mortgage on the property;

• purchasers must declare that they will live in the house or condominium for a period of not less than three years.

Ms Cox said it is an evolving policy and the amended regulations are already in effect.