Stamp Duty Axed for Most First Time Buyers
4th December 2017
4th Dec 2017
The Chancellor recently announced with immediate effect, that first time buyers will pay 0% stamp duty on the first £300,000 for property purchases up to £500,000 in the autumn budget.
This will come as welcome news in N.Ireland as there will be no stamp duty charged for a property up to £300,000, another bonus for first time buyers The treasury estimates the move will prevent 80% of first time buyers in the UK from paying stamp duty altogether. In order to purchase a property at £210,000 a first time buyer would previously have had to pay £1640 in stamp duty, now this can be put towards a larger deposit, or towards furniture or furnishings.