Stamp duty axed for first time buyers

Great news for first-time buyers. Those buying their first home will pay no stamp duty on the first £300,000 of any home that costs up to £500,000. The change was announced by the Chancellor in his Autumn budget and will be effective immediately.

It means that on a home worth less than £300,000, you'll pay no stamp duty at all. For the average first-time buyer, purchasing a £210,000 property, we’ve estimated it will save them some £1,640 in stamp duty.

These changes apply to purchases by first-time buyers in England, Wales and Northern Ireland – there's no change for buyers in Scotland.