Budget 2017. Stamp duty freeze saves first-time buyers up to £5,000 on £300,000 house.
The Chancellor announced today (22/11/17) that first-time buyers will not have to pay any stamp duty on the first £300,000 of any home that costs up to £500,000 with immediate effect, . This means that on a home worth less than £300,000, you will not be required to pay any stamp duty….
HM Treasury estimates the move, which applies from 00.01am this morning, will take 80% of first-time buyers out of paying stamp duty altogether. The freezing of stamp duty for first time buyers will mean a first time buyer purchasing a property for £300,000 will save approximately £5000
The changes apply to purchases by first-time buyers in England, Wales and Northern Ireland – there’s no change for buyers in Scotland.
If you are thinking of purchasing and need some clarification please feel free to call Jane Cole or Martin Mitten on 01273 561312