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When browsing the FSA Money Made Clear Website today I found a Stamp Duty Calculator link to a page hosted by unbiased.co.uk
If you are looking to buy a property and are unsure of the amount of stamp duty you will have to pay you could use this tool, or better still call one of our mortgage advisers who can answer all your questions on freephone 0800 435648.
The Government’s mortgage stimulus package to aid first time buyers by extending the 0% rate for stamp duty to purchases up to £175,000 will expire at the end of the year. After this time it will revert back to purchases up to £125,000. This means a potential saving of £1,750 could be lost after this date if you are buying a house for £175,000 or £1,300 if you are buying a house for £130,000.
Research by the Abbey has shown that the average house purchase is taking up to 3 months. Using this information one could assume that the real deadline should be 30/09/09 for new purchases. If you are looking to purchase a property in this price bracket in the next few months it may be worth bringing this forward.
We have identified our clients who are looking at houses in this price bracket and added them to our watch list to do everything in our power to complete within this deadline.
If you would like us to handle your mortgage arrangements and minimise delays please contact us.
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