Second homeowner stamp duty raised from 3% to 5%
From 31st October 2024, people buying a second home will need to pay an extra 2% of the entire property cost in stamp duty.
Second-home stamp duty rates today are currently 3%, meaning buyers pay an additional 3% of the entire value of the property on top of any standard stamp duty that's payable.
But from 31st October, that 3% rate rises to 5%.
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