Your search results
Posted by Million Euro Listings on March 19, 2021
0

The current stamp duty holiday has been extended in England, Northern Ireland and Wales.

In his Spring Budget announcement for 2021, Chancellor Rishi Sunak (pictured) has confirmed that the stamp duty holiday will be extended until 30 June.  This is an extension beyond the original deadline of 31 March.

Temporary thresholds will remain until 30 June under new reforms

The tax break introduced in July last year, has brought a flurry of activity to the property market, with home movers buoyed by the prospect of saving up to £15,000. This rise in demand has resulted in significant delays to the home buying process, and the Chancellor has now moved to extend the relief for longer to prevent hundreds of thousands of moves falling through.

The industry has continuously drawn attention to the danger of a cliff-edge when the measure comes to an end on 31 March 2021, with backlogs across the property sector causing many transactions to face falling through if unable to complete in time.

Sunak said: “The cut in stamp duty has helped hundreds of thousands of people in buying a home.

“Due to the sheer volume of transactions, many new purchases won’t complete in time for the end of March.”

The stamp duty holiday has caused delays within the property transaction process.

Michelle Andrews, head of buying a home at HSBC UK, said: “The temporary relief of Stamp Duty Land Tax has made a real difference to customers and the mortgage markets during this very challenging time.

“We welcome the extension of the temporary relief and believe it will help continue to give opportunities to more customers to achieve their dream of owning or moving home as well as keeping momentum in the housing and mortgages markets.”

95 per cent mortgage

The extension of the Stamp Duty Holiday in England until the end of June is welcomed, as is a zero per cent SDLT levy on properties up to £250,000 until the end of September 2021. A new government-backed mortgage guarantee scheme is set to launch on 1 April across the UK. The scheme will be available to those seeking to purchase up to £600,000 and will support purchasers who require a 95 per cent mortgage. Unlike many schemes, support will be available to all purchasers and not restricted to first-time buyers or new build homes.


MORE STUNNING VILLAS AND APARTMENTS


MEL logo

VIP SERVICE

Looking for help to find that special luxury dream home?

Are you too busy, don’t have not enough time on your hands? Are you a lifestyle consultant for clients who need your services to find them a luxury property?

Let us contact all our real estate agents in the country that you require and get the best selection of luxury properties sent directly to you.

Simply fill in your requirements in the form and let us do the work for you.

 


OUR SOCIAL MEDIA

Expose your properties to millions of visitors via our social media networks

When you list with Million Euro Listings, your properties are automatically promoted on all social networks with no extra cost to you!

Follow us on our social media networks…

fbtweetlinkedinyoutubeinstagram

 

Million Euro Listings – You Tube channel

Million Euro Listings - Latest property videos
Blog – Stamp duty holiday extended in England, Northern Ireland and Wales

SHARE THIS BLOG

Leave a Reply

Your email address will not be published.

  • Advanced Search

    € 0 to € 99.000.000

  • Currencies 4 You

  • Blevins Franks

  • Just Madeira

  • Viva Costa International

  • Yacht Broker Ibiza

  • London Property Times

  • LUXURY LIVING…the new edition of Luxury Living is the perfect online magazine to read whilst enj…

Compare Listings