Planning to buy a house in the UK? Chances are you’ll save money thanks to the new stamp duty reforms

One of the better offerings to come out of George Osborne’s Autumn Statement are the Stamp Duty reforms. Here’s an overview:

Buying a house under £125k?

Sorry, this doesn’t do much for you. Rates in this band stay the same.

Forking out a little more?

A rate fall of 2% applies on the portion up to £250k; 5% up to £925k then 10% up to £1.5m.

Even more larney?

You save 12% on anything above that. These percentages only work in your favour if you’re in the middle bands — houses that cost more than £937k are actually going to be more expensive than previously.

Overall, it’s good news. On average, home buyers will be saving £4500.

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