With interest rates set to rise, Kwarteng has shaken up stamp duty rates to make it cheaper for you to buy a property.
The threshold where no stamp duty is payable is rising from £125,000 to £250,000, meaning buyers can save up to £2,500.
If you are a first-time buyer, then the threshold where no stamp duty is payable has been increased from £300,000.00 to £425,00.00. This means that any home bought for under £425,000.00 will be free of stamp duty.
The new rates were implemented with immediate effect benefiting anyone buying a home.
If you are looking to move home, our Conveyancing Team will be happy to assist. Please contact Amanda Nudd on 01692 581231 or a.nudd@capronandhelliwell.co.uk