Stamp Duty hike drives up moving costs

The cost of moving home in England has jumped 10.9% over the past year, according to new research from estate agents Yopa.

The average mover now faces a total bill of £51,826, with a 15% mortgage deposit costing £43,585, making up the largest share. However, changes to Stamp Duty relief thresholds have also driven costs higher. One year ago, movers paid an average of £1,433 in Stamp Duty, but this rose to £2,028 before 1 April and now stands at £4,528, a 216% year-on-year increase.

With a steady rise in property values over 30 years, home ownership is likely to be the largest purchase you’ll make, so it pays to get advice from someone you trust.

Your home may be repossessed if you do not keep up repayments on your mortgage