Stamp Duty Holiday Nearly Over
The government increased the threshold over which stamp duty is paid from £125,000 to £175,000 last year. This meant that anyone purchasing a home for less than £175,000 did not have to pay stamp duty at all.
Initially this was for a period of 12 months but then in April’s budget this was extended to December 31st 2009, just three months away.
If you are buying a property at a price of between £125,000 and £175,000 make sure you complete before the end of the year. This may need to be before Christmas as many solicitors close then until the New Year. If you don’t you could be paying up to £1750 (the current rate at this level is 1%).