Stamp Duty Holiday

July 08, 2020

Chancellor Rishi Sunak has today announced a Stamp Duty holiday, raising the level at which the tax is charged to £500,000. This means that you could now save thousands of pounds when purchasing your next home – making it the ideal time to buy.

Whether you’re buying property up to £500,000 or higher, the cost savings are significant, meaning it’s more affordable than ever to consider your next move. You can find the full breakdown of costs on the government website, here.

“The chancellor’s announcement of a stamp duty holiday on purchases up to £500,000 will clearly be extremely welcome news to those already in the process of moving home, or who were planning to do so this year. But in my view, the positivity and benefits are likely to ripple throughout the housing market and economy. The significant cost savings will no doubt stimulate the ‘chain building’ process, with those exceeding £500,000 still hugely benefitting, but will also encourage others now in need of that extra bit of space, be it a home office or garden, both unsurprisingly hugely sought after following lockdown conditions, to make that move. The extent of the holiday, to March 2021, will give movers that much-needed confidence, sustaining the positive return to the housing market we’ve noticed since we were able to return to work on 13th May."
– Stephen Tetlow, Managing Director

To discuss your moving options, please contact your local branch.

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