Save on Stamp Duty when you buy your new Barratt London home
Major Stamp Duty savings for home buyers. This means, if you buy a home up to the value of £500,000, you won’t need to pay any Stamp Duty, and even if you are buying a home over £500,000, you will make a saving. So now could be a great time to buy your new home.
What do the changes mean for you?
Stamp Duty is the tax charged by the Government when you buy a home. Following the Government announcement in England no Stamp Duty is payable on homes up to £500,000. For homes over £500,000 you could save £15,000.
How much is Stamp Duty?
For homes over £500,000 there is still no Stamp Duty to pay on the first £500,000, then the following rates apply:
|
Purchase price |
Stamp Duty % |
|
Up to £500,000 |
0% |
|
£500,001 to £925,000 |
5% |
|
£925,001 to £1,500,000 |
10% |
|
Over £1,5000,000 |
12% |
What if I am an investor or own more than one property?
If you are buying an investment property or an additional home, the following rates will apply to your purchase:
|
Purchase Price |
Stamp Duty % |
|
£0 to £500,000 |
3% |
|
£500,001 to £925,000 |
8% |
|
£925,001 to £1,500,000 |
13% |
|
Over £1,500,000 |
15% |
