Stamp duty changes imminent? – Watch this space!!
Posted on 21st November 2017 at 19:21
There are many rumours doing the rounds regarding what the Chancellor is going to offer on November 22nd in the way of housing reforms. It is highly expected that there will be some significant changes to Stamp Duty, especially in the light of recent reports which have suggested that current rates are stifling the market in some areas.
The main question is whether there will be a blanket increase in the lower threshold or whether there will be a staggered scale of reduction. This could cause some confusion and make it difficult for buyers to know where they stand and which rate will apply to their particular circumstances.
There is a feeling amongst those in power that action needs to be taken to stimulate (and indeed help) first time buyers to get on the ladder but a housing shortage amongst families also means that help may be offered to those downsizing in order to free up the right kind of homes for those who at an earlier life stage.
Whatever happens, there is one thing about which you can indeed be certain and that is the fact that Strawberry will stay on the case and will make sure that all of our clients know exactly what any changes mean to their purchase, sale or let. We are the best after all……..
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