There was some good news for homebuyers announced on Wednesday 8th July: Stamp Duty on buying a home under £500,000 has been removed until 31 March 2021.

The Chancellor of the Exchequer, Rishi Sunak announced the taxation ‘holiday’ as part of plans to boost the economy and to help homebuyers during the coronavirus pandemic.

Usually the threshold where you start paying stamp duty in England and Northern Ireland was set at £125,000 (or £300,000 for first-time buyers buying a property under £500,000) however that has now been removed on all property under £500,000. With no Stamp Duty the average homebuyer could save around £4,500, even as much as £10,000 on higher valued homes.

The temporary measure, which runs until the end of the 2020/2021 financial year, is thought will benefit 90% of people looking to get onto or move up the property ladder.

At Beech Grove Homes we want to help you make that move!

We have a section containing information on Stamp Duty and other Buying Advice. To take advantage of the change in Stamp Duty, discover properties we have available by searching our Developments online or if you would like to discuss buying a new home with us you can get in touch with our Sales Executives via our Contact Us page.


New Stamp Duty cuts

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