January 27, 2023

Speculated stamp duty cut to bring homebuyers up the ladder:

In today’s mini budget there is speculation of stamp duty cuts which will save all homebuyers thousands of pounds and get more people onto and up the property ladder. This is parallel with the current goal of boosting economic growth. Under the current system no stamp duty is paid on the first £125,000 of any property purchase. The threshold at which the duty is paid for first-time buyers is £300,000. How much the buyers pay depends on the price and type of property including if it is residential or non-residential or mixed use. The mini-budget is also likely to include a freeze to corporation tax and see the cap on bankers bonuses scrapped.

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Will this mean property investors are able to leverage on the new cuts, and will that affect first time buyers once more?

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