You might not be able to get away on holiday this year but if you are looking to buy a house below £500,000 you will now not need to pay stamp duty potentially saving you thousands in charges paid direct to the government. The news finally announced by the chancellor and coming into play immediately will ensure the housing market continues to move for both first time buyers and for home movers although there was no talk about buy to let or second home owners who would normally get stung for the extra 3%. Over the last few days the number of calls that we have received has increased with a number of sales that are currently progressing calling to ask for news.
We do also need to point out that under the existing system if this was your first home and the purchase was below £300,000 there already would have been no stamp duty payable.
Good news for the property market and great news if you was thinking of moving, this will be the thing that makes people that were unsure about either moving now or waiting till next year the incentive to get on the market now and move home this year.