First time buyers in Wokingham to be spared Stamp Duty

The Chancellor announced in his budget that most first time buyers will be exempt from Stamp Duty. Anyone buying a home under £300,000 will pay nothing. Anyone buying a home up to £500,000 will pay no duty on the first £300,000.

This is welcome news in the Wokingham constituency, where house prices are high and it is difficult for first time buyers to get together both the money for the deposit and the Stamp Duty on purchase.

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  • About John Redwood

    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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