Stamp duty exemption period ending soon

4 September 2009 By MoneyHighStreet Staff Leave a Comment

The Government exemption on stamp duty payments ends on 31 December but as house purchases typically take 3 months, mortgage applications need to be started by 30 September to benefit.

Stamp duty exemption mortgageThe extension to the stamp duty exemption for properties valued between £125,000 and £175,000 was announced by the Government in the April budget.

Homebuyers of properties that fall within the scheme have until 31 December 2009 to complete their property purchase otherwise they will have to pay 1% stamp duty.

Nici Audhlam-Gardiner, Director of Abbey Mortgages, commented ‘With a saving of up to £1,750 at stake for those people who have been considering buying a property, this impending deadline is an added incentive to move fast.’

Taking this into account, Abbey Mortgages have launched 2 Stamp Duty Saver Mortgages with £250 cashback towards legal fees, free valuation and a low fee:

  • Homebuyer 2 year fixed rate mortgage at 3.99% with up to 75% LTV and £495 fee
  • Homebuyer 2 year fixed rate mortgage at 5.75% with up to 85% LTV and £495 fee

These mortgages are available until 25 September and must complete by 31 December 2009.

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