Following the introduction of a stamp duty holiday on properties worth up to £500,000 until 31 March 2021, MoneySuperMarket has launched a calculator to help potential buyers understand what this could mean for them.
Mark Gracey, corporate development director at MoneySuperMarket, said: “The Chancellor’s announcement last week that stamp duty would be waived on all properties valued up to £500,000 until 31 March 2021 was historic.
“It means that many buyers could save substantial sums on their dream properties.
“For example, a first-time buyer purchasing a property worth £400,000 would have incurred a £5,000 stamp duty bill prior to the Chancellor’s announcement – now their stamp duty bill will be zero.
“To help buyers and potential buyers understand what the holiday could mean for them, we’ve created a stamp duty calculator so they know how much further their budget will stretch.”