Stamp Duty reductions still available!

Those buying their main property to the value of £250,000 are still exempt from Stamp Duty until the end of September.

What’s more, if you are buying your main property for a higher value, you will still gain this reduction on the first £250,000.

Landlords and homeowners purchasing a buy-to-let or second property can also still enjoy a reduction. The Stamp Duty rate on an additional property valued between £125,000 and £250,000 is staying at just 3% until September 30th, a drop of 2%.  

If the person purchasing a buy-to-let is a first time buyer, then they would benefit from even more of a reduction on Stamp Duty. In this scenario, they would default to the standard home mover rates, with 0% payable on the property up to £125,000 and then 2% on up to £250,000.

First-time buyers looking to find their own home still benefit from Stamp Duty exemption for property valued at up to £300,000.

Normal Stamp Duty rates resume from October 1st.

For full details, you can visit the current Government guidance, here.

If you are thinking of buying or selling your property, please contact your local branch for advice, or take a look at the properties available on our website.