Stamp duty relief will end in March

The Emsworth and District bus without its roof, after hitting the bridge. Credit: John Horsman

Roof torn off double-decker bus in Emsworth after railway ‘bridge strike’

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FAREHAM law firm Glanvilles is warning first-time buyers that time is running out to avoid stamp duty.

Currently, first-time buyers do not have to pay stamp duty on any property worth up to £250,000.

But the government’s stamp duty holiday will run out on March 24.

After that, properties worth between £125,000 and £250,000 will have one per cent stamp duty price, and those buying houses worth £250,000 or more will pay the standard Stamp Duty Land Tax of three per cent or higher.