CONFIRMED- Stamp Duty Holiday Extension!

Breaking News! The Chancellor Rishi Sunak has today announced that the stamp duty holiday will be extended.

Stamp Duty Holiday Extension Confirmed!

This applies for properties up to £500,000 until the end of June, as predicted.

It has also been announced that the nil rate stamp duty band will be increased to £250,000 until the end of September.

What does this mean?

This will save home movers thousands in SDLT and stop the many transactions that were agreed on the proviso they were complete prior to the March 31st cut off time from falling through. There are currently up to 100,000 property sales that could of missed out on the stamp duty holiday due to delays in the home moving process.

Until the end of June the zero rate stamp duty will continue up to £500,000 and after that the zero rate band will be £250,000 until the end of September, the normal rate will only return in October.

The nil rate band has doubled, previously this sat at £125,000 so this will save thousands more for home movers.

This applies on purchases of main residences, rates for second properties can be found on the government website link below.

What is the market like?

The housing market is buoyant, here at Lesley Hooks we have seen record numbers of new listings and sales agreed over the past year. Property prices are currently holding up very well and have increased since this time last year. The stamp duty tax cut was due to end on March 31st and even with that news the market was not slowing down despite new home movers not being able to benefit, it is therefore thought we will continue with high levels of activity.

There is still time to benefit from the stamp duty savings, so if you are thinking of moving or want some advice on how this could affect you then get in touch:

Email Us: lesley@lesleyhooks.co.uk

Call Us: 0151 644 6000 (Bebington) 0151 334 5875 (Bromborough)

Whatsapp (Messages Only): 07538771198

Follow this link to arrange a free no obligation valuation: https://www.lesleyhooks.co.uk/valuations.htm

For more information please see the following follow the government updates on SDLT relief.

https://www.gov.uk/stamp-duty-land-tax/residential-property-rates

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)

Confirm

Should you sell your rental property investment?

You may have noticed that prices have been rising in the private rental sector over recent years, largely thanks to a decrease in available properties where landlords are selling up and cashing out of their investments. Should you follow suit? Read this article to find out...

CLICK HERE >

Is it time to sell your short term rental property?

Do you have a holiday cottage or property that you use as a short-term rental investment? You might have noticed an increase of other similar properties coming on to the market in their droves and be wondering why. This article explores some of the reasons that holiday property owners are leaving the industry and how you can protect your investment moving forward.

CLICK HERE >

Interest Rate Cut to 4.25%- The Lowest in Two Years

The Bank of England has cut interest rates to the lowest rate in 2 years- what does that mean for your mortgage rate and will they go down any further?

CLICK HERE >

Damp Decoded - When Is it damp or condensation and how to handle it

Black mould, an unsightly and potentially dangerous issue, can raise serious concerns for potential buyers and is often visible in marketing photographs. Therefore, it's crucial to address this issue before listing your property for sale. But what exactly causes it, and how can you effectively resolve the problem?

CLICK HERE >