Stamp Duty has now been abolished for first-time buyers in shared ownership homes that cost up to £500,000.
In the 2018 budget the Chancellor has announced that, following last year’s Stamp Duty changes, first-time buyers in shared ownership homes that cost up to £500,000 won’t have to pay Stamp Duty. Anyone purchasing shared ownership from 29th October 2018 will be exempt. As a further concession, anyone who has purchased shared ownership since the last budget, 22nd November 2017, will also be entitled to a refund (for properties less than £500,000).
For more information, please contact our conveyancing team.