November 29th 2017
With immediate effect, first-time buyers will pay no stamp duty on homes costing no more than £300,000.
First-time buyers of homes worth between £300,000 and £500,000 will not pay stamp duty on the first £300,000. They will pay the normal rates of stamp duty on the price above that. This will save £1,660 on the average first-time buyer property.
80% of people buying their first home will pay no stamp duty, but there will be no relief for those buying properties over £500,000.
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