Tapered stamp duty holiday. What does this mean for you?
Today's budget announcement has confirmed many rumours that have been circling for the last few weeks. The stamp duty holiday has been extended and this means that many of you are still in for a chance of saving a substantial amount of money on your house purchase.
Anyone buying or selling a house at the moment is likely to have had 31st March firmly lodged in their mind as the date the stamp duty holiday was due to expire.
Following today’s budget announcement from the Chancellor it has been announced that the holiday in its current form will continue until 30th June 2021. It is understood that this will be for all transactions completing on or before this date. To make the transition out of the holiday better, there will be no stamp duty to pay on transactions up to £250,000 until 30th September. Meaning, if you miss the next deadline of 30th June 2021, home buyers will not incur the return of the full stamp duty charge.
This is great news for anyone moving home. The volume of transactions has been huge since the stamp duty holiday announcement in July 2020, which saw anyone buying their home not paying stamp duty on the first £500,000. The end of Rishi’s stamp duty holiday could have caught those people out if their purchases didn't complete by 31st March 2021, but not now.
We have seen a huge increase in transactions. The difference with Sandersons is that we have a team of dedicated sales progressors whose priority is to get the sale of your property over the completion line. The majority of agents take the view that the sale will naturally progress and solicitors can deal with everything. We pride ourselves in the relationships that we have built over the years with many solicitor firms. These firms know and trust our sales progressors and understand that we are here to assist in bringing a case to completion.
Choose an agent who provide staff that are dedicated to getting the sale over the line, with steadfast staff that actively chase chains and respond to emails, we ensure we do everything we can to complete transactions as soon as possible to ensure satisfaction to both sellers and buyers.
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