Stamp Duty Holiday Extended
Following the budget today, it has now been officially confirmed by the Chancellor, Rishi Sunak, that the stamp duty holiday has been extended until the end of June (from 1st July the holiday will continue to apply on properties up to £250,000 until the end of September). The measures come into place partly to relieve pressure on the house buying system that has been stretched buy restraints put upon it by the current COVID crisis.
The measure was initially introduced to stimulate the housing market following the first lockdown and we experienced a surge in interest in our service, with more than 6,000 applicants. This is a clear indication of the strength in depth of the United Kingdom’s housing market, investors from around the world are flocking to capitalise on the opportunities it offers.
This latest announcement is great news for the property market and the economy as a whole as it offers continued stability, and we expect to see interest in our service continue. The UK economy is inextricably linked to its housing market and any disruption during the faltering recovery from the downturn due to the COVID pandemic would be damaging.
Despite the new deadline is just 17 weeks away from buying your property with us, you could still take advantage of the stamp holiday by purchasing your property. Whether you are an investor or a potential Champion[link] it is an ideal time to get your foot on the property ladder before the stamp duty charges return.
If you would like to know how to start your home ownership journey with us, please contact us as soon as possible and we can help you start your journey to owning your own home or investing in one.
Please click here to arrange a free no obligation call or give our friendly and helpful team a call on +44 203 542 1452.
