13 Jul Stamp Duty Holiday introduced
Chancellor Rishi Sunak has announced a Stamp Duty holiday, raising the level at which the tax is charged to £500,000.
This means that you could now save thousands of pounds when purchasing your next home – making it the ideal time to buy.
The average home currently costs £248,000* – with the changes announced you would save £2,460 in stamp duty costs when purchasing a home of this value.
Savings of up to nearly £15,000
Essentially, the more the property that you are buying is worth – up to £500,000 – the more you save, with potential savings of up to nearly £15,000 pounds. With the recent upsurge in property enquiries after the lockdown period, selling your property and finding your new home has never been easier.
For more detailed information, visit the gov.uk website regarding the temporary reduced rates for stamp duty.
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