Welcome to our blog Hints and tips on purchasing or selling homes
Welcome to our blog
Hints and tips on purchasing or selling homes
Oh how time flies! In March 2011 the Chancellor brought in an exemption on stamp duty for first time buyers on properties up to the value of £250,000. Indications are that this exemption will end in March 2012 so for first time buyers it is essential that completion of their property purchase takes place by March 2012 otherwise they will have to budget to pay the standard rate of 1% for any property up to £250,000.00. If you agree to purchase after the end of 2011 and you fit the first time buyer criteria, ensure that the Seller knows that completion must take place by March 2011 so that you will benefit from the exemption.
Oh how time flies!
In March 2011 the Chancellor brought in an exemption on stamp duty for first time buyers on properties up to the value of £250,000.
Indications are that this exemption will end in March 2012 so for first time buyers it is essential that completion of their property purchase takes place by March 2012 otherwise they will have to budget to pay the standard rate of 1% for any property up to £250,000.00.
If you agree to purchase after the end of 2011 and you fit the first time buyer criteria, ensure that the Seller knows that completion must take place by March 2011 so that you will benefit from the exemption.
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