10 July 2014

From September 3, the one per cent stamp duty for any residential property under the value would be waived for a year, allowing buyers to save up to £1,750 per property. The measure, which meant about half of all property transactions would be free of the tax, was aimed at first-time buyers, however experts feared they would continue to struggle with higher mortgage rates.

Buy to let investors could benefit unexpectedly from a stamp duty amnesty on properties worth up to £175,000.

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