Breaking News - Stamp Duty
Chancellor Jeremy Hunt has confirmed that Stamp Duty cuts will remain in place until March 2025.
Expectations are that the housing market will slow so this incentive is remaining in place for now to support the housing market and protect jobs by keeping the market moving and benefiting the economy.
HM Treasury tweeted: "This is to help the jobs & firms that rely on the housing market through the current challenges, while strengthening the public finances in the longer term."
The threshold increased from £125,000 to £250,000 with the first time buyer threshold increasing from £300,000 to £425,000.
This reduces the likelihood of a property market crash and helps to stabilise the price of houses at the same time as the mortgage interest rates become more stable and start to level out.
