Are you confused when it comes to Stamp Duty!
Bricks&Mortar in Lurgan
7th November 2018
Northern Ireland First Time buyers will not have to pay Stamp Duty Tax when purchasing a residential property up to and including the value of £300,000. There is a stamp duty tax of 5% on the amount over £300,000 when purchasing first time, however, this is likely to be a very some portion of the population in this position.
Those purchasing residential properties that are not First Time Buyers will then pay the following percentages of the purchase price.
£0-£125,000 Rate 0%
£125,000-£250,000 Rate 2%
£250,000-£300,000 Rate 5%
£300,000-£500,000 Rate 5%
Useful link!!! When thinking of purchasing a property, use this free Stamp Duty Calculator to help determine how much you will have to pay.
In Northern Ireland, anyone purchasing an additional home or Buy to Let property will pay 3% on properties at £40,000 and above. Properties purchased below £40,000 will not be charged Stamp Duty Tax.
Information found on Government website by following the link below.
For a Free Sales Valuation for your property please go to our Sales Valuation page on www.bricksandmortarni.com where you will find our Fixed Fee, Low Cost, No Commission Sales Service. This gives all the benefits you would expect with high street estate agents but at an affordable Fixed Fee.
If you are, a Landlord and wish to find a tenant for your property then have a look at our Fixed Fee Tenant Find Service. Also, for a Landlords that want to free up more of their time see our Full Property Management Service where we take care of everything from finding the Tenant to the collection of rent and managing maintenance, repairs and tenancy issues.