Property News · December 5, 2014

Stamp duty changes prompt buyer scramble to close property deals


London estate agents deluged by wealthy purchasers beating midnight deadline before housing tax riseLondon estate agents reported a deluge of high-end property deals on Wednesday night as wealthy buyers scrambled to avoid higher rates of stamp duty coming into force within hours of the chancellor’s autumn statement.Minutes after George Osborne announced an overhaul of the stamp duty system which will entail the wealthiest 2% of home buyers paying more of the tax, London’s high-end estate agents were besieged by calls to complete deals ahead of the midnight deadline. Continue reading…

Source : theguardian.com
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