Summer Stamp Duty support
Posted on 8th July 2020 at 13:17
This blog article is deliberately short and sweet in order to focus on and enjoy the news just announced.
Taking immediate effect, Stamp Duty Land Tax ("Stamp Duty") won't be payable unless the property is now worth £500,000 or more, up from £125,000.
This new support is available until 31st March 2021.
FANTASTIC NEWS for First Time Buyers, for home movers, for the housing market.
A very welcome boost for the vast majority of home sales / purchases in England and Northern Ireland.
UPDATE : SD HOLIDAY FOR ALL BORROWERS INCLUDING BTL! https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates
With reduced tax costs, the lowest mortgage rates ever known and with increasing appetite from the mortgage lenders, the savings now announced can help property buyers retain £'000's which they can put towards deposits, new decoration costs, to keep as emergency funds or maybe to offset against other costs payable too.
However the 'saved' money is used, the Stamp Duty support just announced is great news.
For mortgage advice, contact our Brokers here.
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