Buying A Property This Year? Don’t Forget The Stamp Duty
Released
on: September 29, 2009, 3:00 am
Author: London &
Country Mortgages
Industry: Financial
As
autumn approaches, the end of the stamp duty holiday looms ever
closer and those thinking of buying will need to reach a decision
of whether to ‘use it or lose it'.
Last
year the Government announced that it was raising the 0% stamp
duty threshold from £125,000 to £175,000 for a period
of 12 months. In April’s budget, the holiday was then extended
to December 31st 2009.
Anyone
looking to buy a home worth between £125,000 and £175,000
could save up to £1,750 in stamp duty if they complete before
this deadline. Once the deadline is up, properties worth more
than £125,000 will once again face a stamp duty bill of
at least 1%.
Any
saving made could be valuable to many first time buyers already
facing the prospect of having to raise a significant deposit and
cover other moving costs. Most
mortgage lenders typically require at least a 15% deposit
so it is vital to do your homework to get the right mortgage
deal
"As
house purchases can take months to complete, it's make your mind
up time for those considering buying a property. With house prices
now holding up more strongly and in some cases rising, the stamp
duty holiday could act as a greater incentive as the deadline
approaches" commented David Hollingworth, Head of Communications
at L&C Mortgages.
To
work how much stamp duty you’ll have to pay, use L&C’s
stamp duty calculator
Buyers should call L&C on 0800 373300 for free, no obligation
mortgage advice.
-Ends-
Notes to Editors:
London & Country (L&C) is the UK’s leading no-fee
mortgage broker. Based in Bath, it provides whole of market advice
via telephone and post to clients nationwide. As well as residential
mortgages, it also specialises in the Buy-to-Let and adverse-credit
sectors.
L&C
is a Climate Neutral company and for the last seven years has
invested in climate friendly projects and tree-planting to help
offset its emissions and those of its customers. For more information,
go to www.lcplc.co.uk/green.
L&C
has won numerous awards including:
Best Mortgage IFA/Adviser of the Year – Money Marketing,
2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy,
2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and
2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and
2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales
and West) 2008
Business Leader (Broker) – British Mortgage Awards - 2008
Online Mortgage IFA of the Year – Financial Adviser - 2008
For further information please contact:
David Hollingworth, Head of Communications
Office: 01225 341211
Mobile: 07710 634044
Richard Morea, Technical Manager
Office: 01225 341312
Mobile: 07970 885168
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