BREAKING! No stamp duty to be paid for properties up to £500,000 until March 2021

In an announcement made just this afternoon the Chancellor of the Exchequer has said that buyers will no longer have to pay stamp duty for property up to £500,000 (no news on second homes though).

To put that in to perspective, here are the savings buyers will make when purchasing:

£150,000 – £500
£200,000 – £1,500
£250,000 – £2,500
£300,000 – £5,000
£350,000 – £7,500
£400,000 – £10,000
£450,000 – £12,500
£500,000 – £15,000

First-time buyers were previously exempt up to £300,000

Hopefully, this news will see mortgage lenders relax their criteria a little more now as well.

If you are looking at buying a property and need help with your mortgage then please contact the office on 01535 279679.