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Govt raises Stamp Duty threshold
Tuesday 2nd September 2008, 10:20AM BST.
The government has announced a temporary increase in the Stamp Duty threshold to £175,000.
The increase applies to all purchases from tomorrow (3rd September) for one year when it will then be reviewed.
The announcement forms part of a packager of measures being announced by the government today to help first time buyers and attempt to kick start the stagnant housing market into life.
Other measures are expected to include government approved sale and rent back schemes to stop those in the most danger of defaukting on their loans having their homes repossessed.
Hazel Blear, communities minister, this monrning told BBC Breakfast News that spending money now to avoid families having their homes repossessed was preferably and less expensive than having to house them after this had happened when they risk being made homeless.
More details are expected to follow shortly.
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Well that’s just great. Just a month ago I had to pay the govt. £1400 for the priviledge of buying a house. Will I get a refund? Will I @@@@!!
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Thank God!! Just reserved a house and in the process paying solicitors fees. Now thats £1650 i wont have to pay!
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wonderful news, gentle socialism at work. well done gordon and alistair
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