HOUSE buyers are being urged to wrap up their deals as soon as possible before the stamp duty holiday expires at the end of the year.
Properties worth between £125,000 and £175,000 have been exempt from stamp duty since September last year as part of the Government’s financial stimulus for the UK’s economy.
Abbey Mortgages is reminding buyers that this is set to end from 2010, when home buyers looking for property in this price range will once again face a tax of one per cent — anywhere between £1,250 and £1,750.
Abbey’s Nici Audhlam-Gardiner, said: “The stamp duty holiday has been a great support in stimulating the housing market. It has significantly reduced costs of house purchases for properties worth up to £175,000.”
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