Latest News
The Budget - No Stamp Duty up to £250,000 (or is it?)
In yesterday's budget, the Chancellor announced that first time buyers would not pay any stamp duty if their property purchase was worth up to £250,000.
The changes would be implemented from 25 March 2010 and the move would be paid for by an increase in stamp duty on properties worth over £1 million - though this change would not come in until April 2011.
Commenting on the changes to the stamp duty thresholds announced in the Budget, Tony Rice of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone, said: "It's important to remember that the removal of stamp duty for properties worth up to £250,000 is for first time buyers only. Even if you've owned a property - any property - in the past and no matter how long ago that was, you will not qualify for the stamp duty exemption. If you're buying a property with someone else, as a married couple or otherwise, then if one of you has already owned a property in the past, even if the other person is a genuine first time buyer, you won't qualify either."
[ 25-03-2010 ]
