Member Article

Stamp Duty Reforms are Good News

Stamp duty tax reforms are now here and good news for Holroyd Miller customers as they look forward to huge savings when purchasing a new home.

A large percentage of the agents customers are first time buyers looking to buy at an average purchase price of £135 thousand. Under the previous stamp duty system purchasers would have been paying £1300 on top of the purchase price to secure their dream home; now under the reformed system one hundred pounds is the amount they will pay.

Simon Miller, director at Holroyd Miller says: “This really is good news for our customers. Another door has just opened to make buying a home easier, this is really good news fro our customers - very positive.”

Osborne announced that he would be completely reforming what he described as a “badly designed tax on aspiration” 98% of home purchasers are set to benefit from the system.

What does it mean for you?

No Stamp duty at all on properties up to £125.000

The first £125,000 on properties free of stamp duty

2% stamp duty payable on the portion up to £250,000

5% stamp duty payable on the portion up to £925,000

To calculate exactly how much you could be saving refer to the government’s stamp duty land tax rate calculator here: www.gov.uk/stamp-duty-land-tax-rates

Voted regional agent of the year in the North by the Guild of Professional Estate Agents, Rising Star of the Year by The Negotiator Awards and Shortlisted as Lettings Property Manager of the year by the Sunday Times the Holroyd Miller team is the most dedicated integrated property specialists in the Wakefield area. See customer reviews on www.allagents.co.uk

This was posted in Bdaily's Members' News section by Holroyd Miller .