No Stamp Duty On Purchases Under £175,000

Stamp Duty Limit Rises

The Government has anounced that there will be no stamp duty payable on property purchases up to £175,000. Whilst this is an effort to kick start the property market, it has only been brought in for 12 months (from September 2008) and is only an increase of £50,000 from the previous limit. The maximum saving now will be £1,750 for house purchases at the top of the Stamp Duty free limit.

Property Specialist Daphne Frost says of the increase:

"We are pleased to see any movements to help the property market at the moment, but in Redhill and the surrounding areas many properties will be outside of this extended exemption so unfortunately it is unlikely to have a huge impact locally."

For more information on this article or on the property market generally, you can contact Daphne Frost on 01737 761004.

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