What Is Happening With Stamp Duty?
Stamp duty rates and allowances will have probably changed again by the time this post goes live. Stamp Duty used to be quite straight-forward, now the allowances are all very different. The government is trying to lesson the burden of stamp duty on 1st time buyers ‘ HURRAY, and lesson the incentive for buy to let investors to buy property, as a buy to let investor has to pay an extra 3% on top of the normal rate. Buying at £200,000, a 1st time buyer will pay £0 stamp duty, a ‘normal’ purchaser will pay £1500 and a buy to let investor will pay £7500..