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First time buyer and dreading the extra cost of Stamp Duty? Never fear…it’s now being scrapped!Mortgages November 29, 2017 - 11:05 am No Comment
In England, Wales and Northern Ireland (and with immediate effect) those buying properties worth up to £300,000 will no longer have to find the extra money to pay for pesky stamp duty. You heard us right…ZERO stamp duty on any home worth less than £300,000! Great news, isn’t it?
According to Money Saving Expert, The Treasury estimates that the move will take 80% of First Time Buyers out of having to pay the tax, saving thousands in the process. Hoping to buy in pricy London? The rule extends to £500,000 – giving you a potential saving of around £5,500!
It seems like Christmas has come early this year!
Are you currently saving to buy? Does the new rule affect you? We’d love to hear your thoughts in the comments below!
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