These new measures, which have been introduced immediately, will reduce stamp duty bills for all movers by up to £2,500!
For first-time buyers, it’s even better news, which could save them thousands! The 0% threshold is being lifted from £300,000 to £425,000, in addition, the maximum property price for which this relief can be claimed has raised from £500,000 to £625,000.
New Stamp Duty Rates for Everyone
Up to £250,000 Zero
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%
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If you’re buying your first home You can claim a discount (relief) if the property you buy is your first home. This means you pay:
• no SDLT up to £425,000
• 5% SDLT on the portion from £425,001 to £625,000
View all of our property with 0% Stamp Duty for first-time buyers here.