Stamp Duty Savings for First Time Buyers
Todays budget announcement (22 November 2017) has brought fantastic news for first time buyers looking to buy their first home. The chancellor has announced that stamp duty for first time buyers has been abolished if they buy a property up to £300,000 which is a saving of up to £5,000 which is a welcome boost to a first time buyers deposit.
Even if the first time buyers are looking to purchase over £300,000 the stamp duty payment is greatly reduced with the current rate of 5% stamp duty at that level being charged on just the amount over the £300,000.
If you are a first time buyer looking for your first home this is a fantastic time to start looking and take full advantage of this saving. For more details on affordable levels, government schemes that may be available and general advice speak to one of our first time buyer specialists. Click here for an appointment.
Thinking about selling a home suitable for a first time buyer? Now is a great time as this announcment should bring first time buyers back to the market helping to find a buyer quickly and at a premium price. Click here to book a free, no obligation valuation.