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So what impact do the recent Stamp Duty changes make?

 

Well in short, the answer in some cases is quite substantial.  But of course, it all depends on how much you are paying for the house you are buying.  As an example:

 

A buyer who pays £265,000 would have paid £7,950 under the old scheme and now will pay just £3,250 under the new scheme. Saving them £4,700, not a bad start to the New Year!

 

A buyer who pays £350,000 for a house would have paid £10,500 under the old scheme and will now pay just £7,500, , thatís a saving of £3,000, again not a bad start to the new year.

 

A buyer who pays £520,000 for a house would have paid £20,800 under the old scheme and will now pay just £16,000, thatís a saving of £4,800.

 

A buyer who pays, £680,000 for a house would have paid £27,200 on the old scheme and now pays £24,000, a saving of £3,200.

 

And one more final example, a buyer who pays £800,000 for a house would have paid £32,000 on the old scheme and now pays £30,000, saving £2000.

 

As you can see this new scheme delivers a much fairer stamp duty pay scale than ever before and will undoubtedly encourage more buyers and sellers into the marketplace. If you want any further clarification on stamp duty levels, please donít hesitate to ask us.


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