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Will A Property Stamp Duty Freeze Really Help?

News that Alistair Darling is in the process of reviewing a possible freeze in housing stamp duty has received a very good response in the press, but will it really make a massive difference?

For those unaware of the stamp duty bands you will pay 0% on a home worth up to £125,000, 1% on a property between £125,000 and £250,000, 3% between £250,000 and £500,000 and 4% for a property worth in excess of £500,000. All in all it is something to consider but would it really become a deal breaker?

Those keen on any help the government can offer seem to be getting very excited about the possible Autumn move but there is a nagging suspicion that all it will do is mask the real problems. It seems as though the authorities have tried to shore up the system by offering a £50 billion life raft - something which seems to have failed in the medium term - and now they are looking at a headline grabbing move.

The facts are that an extra £2,500 maximum on a house worth around £250,000 will not make of break a deal, it will help to have that added expense taken away, but in the overall scheme of things it is minimal. There is also the fact that the government will be losing tax revenue, something which they can ill afford to give away in the short, medium and longer term.

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