Last week was a shocker, wasn’t it?
It’s not often property investors are dealt nice little surprises from the UK government, so when Chancellor Rishi took to the stage last week and announced a stamp duty cut, we had a flurry of questions from Hubbers.
The Chancellor announced that (for England and Northern Ireland), the stamp duty threshold would now increase to £500,000 until March next year. So if you were buying a home to live in, up to this value, you’d have zero stamp duty to pay.
The big question was – would this cut apply to property investors?
And the answer was a surprising ‘hell yes!’
Before you run out the door, the 3% surcharge for additional properties is still there, but still, we’ll take any small wins that we can, right?
We’ve explained it all in detail right here – and there’s a handy calculator that you can drop straight into your downloads folder and see how much cash you’re likely to save.
We’ve also had LOTS of questions from those who have exchanged on their properties but not yet completed.
So what’s the deal with this?
Do the new rules apply to you or not? Rob B gives us the run-down on this in today’s Ask Rob & Rob episode.
And if you’re sat there thinking… ‘These cuts are great, but what will this do to the property market in the short (and long) term…’
We’ve also got you covered on this episode.
And if that wasn’t enough, we’re bringing something back by popular demand. It’s coming this Thursday, so make sure you set your alarms for 6am!
That’s a lot of excitement for a Tuesday. Happy listening!
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