Stamp Duty Land Tax Exemption Window – 16 weeks left

Act now for Stamp Duty savings

Contact A Mortgage NowIn today’s Autumn statement Chancellor George Osborne confirmed there are no plans to extend the Stamp Duty exemption window for First Time Home Buyers.

Under current Stamp Duty Land Tax rules a First Time Home Buyer can purchase a property for up to £250,000 without incurring the usual 1% stamp duty charge. This is a saving of up to £2,500.

As of 25th March 2012 this Stamp Duty Land Tax exemption threshold figure will return to the previous limit of £125,000. This leaves buyers with under 17 weeks to take action and benefit from the saving.

Our experience tells us that First Time Home Buyers often decide to buy in the first quarter of the new year, started looking for property around the Easter weekend, then complete the purchase in June or July. Any First Time Home Buyers following that pattern in 2012 are likely to end up with a hefty bill that could have been avoided.

We would urge all First Time Home Buyers who intend to buy next year between the price points of £125,000 and £250,000, to start looking now and get their offers in very early in the next year for pre March 25th completion.

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