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16,000 first-time buyers save thousands from stamp duty changes

Jan 04, 2018

savings-2

Over 16,000 first-time buyers have saved thousands due to the recent stamp duty changes, the government has said.

The Government abolished stamp duty altogether for first-time buyer purchases up to £300,000 in the autumn budget, also making  this relief available for the first £300,000 of properties worth up to £500,000, providing help for people in higher value areas.

The changes mean a stamp duty cut for 95% of all first-time buyers who pay it and no stamp duty at all for 80% of first time buyers, with savings of up to £5,000.

Over 16,000 first-time buyers are estimated to have already saved thousands of pounds since the changes took effect in November, with over a million first-time buyers set to benefit in total over the next five years.


Original source - https://www.gov.uk/government/news/pm-thousands-have-saved-money-already-thanks-to-governments-stamp-duty-cut