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Stamp Duty Threshold changes

jmeasey
Posts: 1 Newbie
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
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
0
Comments
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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 time0 -
Your friend is talking out of their proverbialEverything that is supposed to be in heaven is already here on earth.
0
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