In today’s budget the chancellor announced numerous changes affecting the UK economy, however there was a key takeaway that might affect you. As of today stamp duty has been abolished for all first time buyers on homes up to £300,000. According to the BBC, this should benefit 80% of first time buyers across the country – read their budget summary here.
What does this mean exactly?
Before this change first time buyers buying properties up to £300,000 had to find up to £5,000 in stamp duty to buy their home. As of today, this figure drops to zero. If you are currently in the process of buying a house, are a first time buyer and have not yet completed, you will benefit. Talk to your solicitor who will be able to confirm this for you.
Where could you benefit?
If you are a first time buyer, you could save on all our homes up to £300,000. View our homes at Spring Mills, Fence, Harwal Waterside, Silsden or The Bridge in Haworth.