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BUDGET 2017 – STAMP DUTY ABOLISHED FOR FIRST TIME BUYERS

Stamp duty has been abolished for first-time buyers purchasing properties costing up to £300,000.

Those buying more expensive homes worth up to £500,000 won’t pay any duty on the first £300,000.

HM Treasury estimates the move, which was announced in today’s Budget and applies from 00.01am this morning, will take 80% of first-time buyers avoid paying stamp duty altogether.

The changes apply to purchases by first-time buyers in England, Wales and Northern Ireland.