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Stamp duty 'costs average homeowner almost £12,000'

Stamp duty costs the average homeowner almost £12,000 over the course of a lifetime of climbing the UK's housing ladder, research from a global bank has found. Lloyd's TSB found the ax on legal recognition of documents cost £11,782 per homeowner.

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Stamp duty costs 'reaching almost £12,000'

The average homeowner will pay almost £12,000 in stamp duty over the course of a lifetime of climbing the UK property ladder, research from a High Street bank found.

Stamp duty has been accused of preventing people from getting on the property ladder. Credit: PA

Lloyds Bank said the average homeowner faces paying £11,782 in stamp duty, on top of the cost of buying a house.

As people typically spend just under eight years living in a property, the research assumed that a home owner had bought their first property in 1998, their second in 2006 and their third in 2014.

The rigid "slab" structure of stamp duty has been strongly criticised, particularly as surging house prices have pushed more homes into higher tax brackets.

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