Stamp Duty

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Stamp Duty

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Stamp duty at 3% is hitting the economy as average wage earners cannot afford £7,500 duty when buying the average priced house at £250,000. Add solicitor's fees and estate agent fees and the average house-buyer has to increase their mortgage by £13,000 to cover these costs. I am asking the Government to either raise the threshold to £500,000 for the 3% duty or better still to keep it at 1% right across the board. Builders, DIY stores, furnishing stores etc would all benefit financially as a new house always needs a lot of new items.

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