Stamp Duty
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This is a charge levied by the government on house purchases. There is a sliding scale of stamp duty depending upon the value of the property you are buying:
- Up to £125,000 - nil
- £125,001 to £250,000 - 1% of the purchase price of the property
- £250,001 to £500,000 - 3% of the purchase price of the property
- More than £500,000 - 4% of the purchase price of the property
If you need any more information, then simply speak to an expert today!