Today Rishi Sunak announced some great news for people looking to move house. With immediate affect there will be a Stamp Duty holiday for all completed house purchases, up to the purchase price of £500,000, until the 31st March 2021. This means a saving of thousands for most people moving house. Buyers paying £500,000 for a house will now save £15,000 in Stamp Duty. And those paying more that £500,000 will benefit too from relief on the first £500,000 of the purchase price.
This is great news as it means many buyers will now be able to look at properties that were previously unaffordable, or will now have additional funds available for renovations after they've moved in.
To find out how much you could be paying try our Stamp Duty calulator
Managing Director, Andrew Kershaw is delighted with news, "The news today is a great move by the government. There are a number of people who want to move but have been put off by high stamp duty costs. It's also a great boost for first time buyers who may now find that more properties become available to them. Although there is uncertainly at the moment as we come out of lockdown, this news alongside the low interest rates at the moment is a great step in boosting customer confidence when purchasing a new property."
For anyone who is thinking of moving, we can provide advice on how best to sell your property as well as give you a free property valuation so you can understand the value of your current property. We are also able to help customers with their mortgage by providing access through Embrace Financial Services.
Customers who are looking for a new property can also browse our current properties for sale.
If you are thinking of moving, book an appointment to start your move today
Find out more about your mortgage options and if we can find the best deal for you.