What is Stamp Duty?
Stamp duty is a tax everyone who buys property in England, Wales, or Northern Ireland has to pay when they buy a house over £125,000.
Houses in Coombe tend to be well above the figure of £125,000. Coombe is a highly desirable place to live, and this is reflected in the higher prices, so the stamp duty tends to be higher than it might be in other London locations.
Coombe Hill is situated in the Royal Borough of Kingston-upon-Thames. Its history dates back to Roman times, and it is mentioned in the Domesday Book as Cumbe. Its assets then included herbage worth four hogs and 12 acres of meadow land. It rendered £8.
How times have changed. Property in Coombe would render far more than £8 to its landlords today.
How much stamp duty?
The amount of stamp duty you pay depends on the value of the property you wish to buy. The duty increases if you wish to buy a property with a higher price tag.
The samples below will give you some idea of how this affects the prices of property:
Stamp duty increases as the price rises. A property priced at £900,000 will attract a duty of £35,000.
These are just some examples of how stamp duty will affect the price of the home you wish to buy. The above samples apply to a property being purchased as a main residence. If you are buying a second property, stamp duty is considerably higher.
Despite the relatively high cost of property, Coombe Hill is a very popular area in which to live. Buyers are attracted by the recreational amenities in the borough and the range of good schools catering to all ages and denominations. In addition, there is the proximity to Wimbledon, Heathrow, and Gatwick airports.
The area boasts quick access to the M3 and M25, and is accessible to the West End and the city of London. Coombe Hill is also surrounded by vast areas of open countryside and parkland, including Richmond Park and Wimbledon Common.
If you are interested in property for sale in Coombe Hill, please contact us.