Stamp Duty savingsMake moving to a Redrow home more affordable.
Autumn Budget – Savings for first-time buyers
As of 22nd November 2017, first time buyers will not pay Stamp Duty on the first £300,000 of their home. Therefore if you buy your first home for less than this, you will not pay any Stamp Duty. If you buy your home for between £300,001 and £500,000 you’ll only pay 5% on that portion of the purchase price.
What is Stamp Duty?
Stamp Duty Land Tax is a tax due on all property purchases, new or pre-owned, over £125,000 if you are not a first time buyer. It is often referred to as Stamp or Stamp Duty. It ranges from 0% on the first £125,000 of the property price, to 12% of the value over £1.5m.