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Stamp Duty Threshold changes

Hi,

We are currently in the process of selling our property and buying another and just had a quick question about stamp duty thresholds.

We are buying at just over 200k, so we know stamp duty is currently 1% of that. However one of our friends told us that after the 31st dec 2009, any purchase of properties bought over 200k will have a stamp duty of 3% payable? Is this correct? I have never heard of this before, nor can i find any mention of this anywhere on the net.

I know that currently if you buy for 175k or under there is no stamp duty until 31st dec, after which it will be 1%, but i have never heard of this increase for properties over 200k as well?

Thanks in advance

jmeasey

Comments

  • clarew
    clarew Posts: 502 Forumite
    Part of the Furniture 100 Posts
    3% is for properties over £250k as far as im aware.
    Original mortgage 185k. 2003
    Current mortgage. 3500 Jan 2025
    Aiming to finish in 2025. instead of October 2028 whilst raising 4 children to teens/adults in that time
  • Doozergirl
    Doozergirl Posts: 34,021 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Your friend is talking out of their proverbial :confused:
    Everything that is supposed to be in heaven is already here on earth.
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