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Managing Director of Surrey based Aston Mead estate agents, Adam Hesse says, “Overall the Stamp Duty reforms make positive reading for most buyers of homes up to just short of £1m.

“Above that though, and your bill is going to increase, from what it would have been before, if you haven’t already started the process. But people buying above £2.1m are now being actively penalised which is not good news in the South East of England. It equates to a one off Mansion Tax bill when you buy your house in the higher priced bracket, having to pay an extra £18,750. On balance, the stamp duty reforms would appear to be a fairer system for most and some buyers are already going to see the benefits.

“We have just sold one house at £389,950 and exchanged before the new ruling. This allows our buyers to choose which SDLT rates they pay as their completion isn’t until the end of March 2015. Under the old rules they would have paid £11698.50    Under the new rules they pay £9497.50, and SAVE £2201.”


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