Home buyers in Scotland will pay new tax rates when buying a property from today, which will see 50% of buyers pay nothing at all, according to the Scottish Government.
Scotland is to scrap the abolute or 'slab structured' stamp duty system that exists in the rest of the UK in favour of a proportional system where tax is paid only on the portion of the purchase price that goes over each threshold, rather than the entire amount.
Up to 300,000 homeowners who bought a property in a "disadvantaged" area over the past decade could reclaim up to £1,500 in stamp duty, MoneySavingExpert.com can reveal. But the deadline to claim is 5 May so take urgent action.
Many homebuyers in Scotland could benefit from lower stamp duty rates within two years, after a bill passed last week enabling the country to set its own rates for the first time.
Halifax will cover the cost of stamp duty for some first time buyers — one of many deals that have made mortgages cheaper than ever for those lucky enough to qualify for one. Here, MoneySavingExpert.com analyses the offer.
The proceeds of selling off 4G mobile phone licences should be used to "kick-start the economy" by building 100,000 affordable homes and funding a tax break for first-time buyers, shadow chancellor Ed Balls will say today.
The proportion of people planning to take their first step on the property ladder in the coming months has risen to its highest level in at least two-and-a-half years, despite the "minefield" of difficulties they face, a study suggests today.
2 July 2012
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