Each week Mortgage Solutions picks the best reader contributions from our article comments and letters to the editor.
Scots abolish slab Stamp Duty tax; Properties worth over £250k slammed with 10% tax
Slab taxes are unfair, punitive and distort markets, so my initial response to this story was – hurrah!
However, those working in the London market will find the “sweet spot” is around £325,000 with the old scheme charging £9,750 and the new scheme charging £9,800. All those buying at this price and above will pay more if England & Wales follows suit.
Further, the average house price for Greater London was recently reported as £533,489, so the tax bill would rise from £21,340 to £30,649.
Arron, Temple Capital
You can read more of this week’s best reader comments in our Star Letter Extra column HERE.
