Stamp duty the tax you pay three times over
Friday, 08 August 2008 08:12

Sounds crazy but it's true, you acutally pay the stamp duty three times.

Most people have a mortgage, with interest over the term of the mortgage you pay back three times what you originally borrowed. The stamp duty is just part of the amount you borrowed, so you pay back 3 times that and you have paid stamp duty three times!

Even though you actually pay the stamp duty in cash when you buy the house you still have to borrow that much more on your mortgage, so no matter how you look at it you pay the stamp duty three times.

Remember that when politicians are talking about stamp duty.



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