First time buyer and dreading the extra cost of Stamp Duty? Never fear…it’s now being scrapped!


First time buyer and dreading the extra cost of Stamp Duty? Never fear…it’s now being scrapped!

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!

 

 

About the author

author-avatar
Chris Norton

Founder of Prohibition, listed in the world's top 30 marketing bloggers and an award winning online PR and crisis management specialist. Co-author of Share This Too.

Leave your comment


         




© Copyright 2013 Keepmoat