Salford Property News
A Change to the Stamp Duty Threshold
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No stamp duty to pay on purchases up to £500,000!
The Chancellor of the Exchequer, Rishi Sunak, has today announced yesterday an immediate change to the Stamp Duty Land Tax threshold. Anyone buying a residential property of up to £500,000 will pay no stamp duty, whether they are a first time buyer, or if they have owned property before*. The "Stamp Duty Holiday" will be in effect until 31 March 2021 so don't delay, register your property requirements with Peter Anthony today!
The Stamp Duty Holiday is a welcome boost to the housing market and offers a substantial saving to buyers, whether they are buying their first home or are getting back on the property ladder having owned property in the past.
The new thresholds are as follows:
Up to £500,000 – zero stamp duty
£500,001-£925,000 – 5% stamp duty
£925,001-£1,500,000 – 10% stamp duty
£1,500,000 and above – 12% stamp duty
You can check how much stamp duty you are likely to pay using the Government’s stamp duty calculator.
* For people buying an additional property, the 3% higher rate still applies but this still represents a saving.
It’s an ideal time to get on the property ladder so if you are not already registered with Peter Anthony, why not do so today? You can specify your property requirements, and you’ll automatically be matched to suitable properties before they come on the market.
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About The Blog
This Blog looks at what is happening in the Salford and Eccles property market. We report on events and community news along with investment ideas and tips for those loosing to invest in the area.
Dewi Jones - Editor
Salford is fast becoming one the most exciting areas of development in North West. If you need any assistance buying, selling or letting properties in the area we have over 30 years of experience
and local knowledge to help.
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