As part of a raft of measures aimed at getting the UK
economy back on its feet, Chancellor of the Exchequer, Rishi Sunak, will
reportedly reveal plans during his summer statement to increase the Stamp Duty
threshold. At present, the threshold is set at £125k, but this could rise to as
much as £500k according to reports. The new threshold is designed to make it
more financially realistic for first-time-buyers to get onto the property ladder.
However, despite the Prime Minister repeatedly stating that he wishes to
overhaul the "huge problem" of stamp duty, the new threshold is
believed to only be temporary. Read more on the Property Reporter website.
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