News
New Stamp Duty measures
A major cross-government package of new measures to meet current challenges in the housing market was announced on 2nd September 2008 by Communities Secretary Hazel Blears.
The Chancellor of the Exchequer also announced that Stamp Duty Land tax will not apply to purchases of residential property of £175,000 or less. The figure was £125,000 or less.
The measures announced by Mrs Blears include:
- offering 10,000.00 first time buyers currently frozen out of the mortgage market the chance to get onto the property ladder through a new £300m shared equity scheme
- supporting up to 6,000 of the most vulnerable homeowners facing repossession to remain in their home through a £200m mortgage rescue scheme
- a £400m boost in spendin power for social housing providers to deliver 5,500 more social houses over the next 18 months by bringing funding forward
Please contact Roger Stone at Chichester or Sarah Evans at Selsey for more information.