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Comments from Nigel Payne, consultant at broker-focused conveyancer, Blacks Connect, on today’s changes to the stamp duty land tax system
04 December 2014
“As you might imagine lots of calls are already coming in to Blacks from clients asking how this will affect them. The downside is for all those people who completed last Friday - the last Friday of the month is always the busiest - and most have lost out. The positive, and critical point, going forward is that the new system will largely eradicate the impact the previous system had on house prices. Large house price gaps were created by the slab system, for example, few houses are on the market priced at between £250k and £275k or £500k to £575k as sellers knew they would have to sell beneath the previous limits or substantially above them. This is now likely to change.”
