Solicitors rush to complete in four days!

Posted: 20/03/2012

Since March last year, first time buyers have had the opportunity to purchase a property up to the value of £250,000 without having to pay Stamp Duty but this offer ends on the 24th March, only four days away!

At the Pali Head Office, there’s been a flood of urgent requests for our prompt and efficient search service caused by the end of the Stamp Duty Holiday.

The years break has been a huge relief for first time buyers with a potential saving of £2500 on properties which were at the top end of the Stamp Duty price bracket of £250,000 and 3% for properties bought above £250,000.

After the 24th of March, Stamp Duty will return to its usual rates which are;


-          0% for properties purchased under £125,000

-          1% for properties purchased between £125,000 and £250,000

-          3% for properties purchased between £250,000 and £500,000,

-          4% for properties purchase between £500,000 and £1,000,000

-          5% for properties worth £1,000,000 and over.


Halifax made a calculation that an extra four in ten first time buyers have been exempt from paying Stamp Duty thanks to the Government raising the starting threshold of paying Stamp Duty to £250,000.

Once the Stamp Duty holiday ends and the threshold returns to £125,000 the result will be nearly 45% of first time buyers having to pay Stamp Duty once again. In Greater London the figures will return to only 4% of first time buyers being exempt from Stamp Duty but figures will be better in the North where there are more affordable houses.

Do you require a search on a property before the Stamp Duty Holiday ends? Pali can help you, please email or call 0151 691 1170 with any enquiries.

Amanda McGovern, Pali Ltd

(0) Comments 24th March, property ladder, first time buyers, estate agent, labour Government, stamp duty holiday

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