First Time Buyers - Free Stamp Duty until 24th March 2012
If you are a first time buyer and looking to purchase your first property, act now as time is rapidly running out to take advantage of the 1st Time Buyer Stamp Duty Holiday, first introduced in 2010, which allows first time buyers to pay no stamp duty on purchases up to £250,000. This stamp duty exemption expires on March 24, 2012 and can save buyers a significant amount of money - up to £2,500 on higher end property purchases. This is a great saving and as we all know, in this market, every penny counts!
At award winning solicitors and estate agents, McEwan Fraser Legal, we have numerous properties throughout Scotland which would meet the 1st Time Buyer Stamp Duty Holiday pricing threshold and we would be keen to assist any first time buyer in offering a very proactive service for the purchase of their first home. Click here to see a list of available properties for sale with McEwan Fraser Legal and look for our 1st Time Buyers Stamp Duty Holiday Logo.
There is only a small window left to take advantage of this legislation, so act fast to avoid paying unnecessary Stamp Duty on your first property purchase! Those who wish to benefit from this saving can contact McEwan Fraser Legal’s team of experienced sales negotiators today on 0131 524 9797 or email us to enquire.
Please Note: From March 25, 2012 onwards, all purchasers who take ownership of a property will pay 1% stamp duty on purchases over £125k - £250k. See table below for a full list of Stamp Duty Threshold prices.
The Stamp Duty Threshold:
| Purchase price/lease premium or transfer value | SDLT rate | SDLT rate for first-time buyers |
|---|---|---|
| Up to £125,000 | Zero | Zero |
| Over £125,000 to £250,000 | 1% | Zero |
| Over £250,000 to £500,000 | 3% | 3% |
| Over £500,000 to £1 million | 4% | 4% |
| Over £1 million | 5% | 5% |
