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Financial Blog

Stamp Duty

Stamp Duty.  The bane of many a buyer!  It’s essentially a land tax, and it’s payable on all properties in the UK over a certain price. But from December last year we were offered some relief from the ever-escalating costs of buying a home, as stamp duty pricing changed.

                           And this has meant GOOD NEWS for most buyers in the South-East.

Seven Sisters, SussexBecause although properties are more expensive in the South-East (with an average purchase price of around £306,00), that does mean that there are greater savings to be made on the stamp duty.

In fact, that would make a saving of £3,880 on stamp duty on the average purchase price in the South-East or a not insignificant 4% of the total average deposit. And that is the highest saving (as a percentage) across the country.

 And to coin a well-known catchphrase: when you live in the South-East every little helps!

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