Rishi Sunak hands the property market a lifeline with Stamp Duty extension

3 Mar 2021  •  Last updated 12 Apr 2021  •  5 min read

Today was Budget day, and a day of no surprises, with many of us being pre-prepared for what the Government has in store for us, as the UK continues to battle on from the impact of Covid-19.

For many buyers, solicitors, conveyancers and indeed, agents, the news of the Stamp Duty Holiday extension comes as a welcome one.

All properties up to the value of £500,00 will benefit from no stamp duty until 30th June, followed by a tapering of the extension of no stamp duty on properties up to the value of £250,000 until 30th September, with tax on properties resuming to pre-covid from 1st October.

Sunak’s holiday extension means a sizeable saving of up to £15,000 until the end of June, followed by a maximum saving of £2,500 between July and the end of September.

But that is not all, as well as offering a lifeline to many who were giving it their all to beat end of the stamp duty holiday with the original 30th March deadline, Sunak has also confirmed a government-guaranteed 95% mortgage loan available from April on properties up to £600,000, helping thousands of first-time buyers get their first footing on the property ladder.

Given today’s announcement, the team at Lawsons are on hand to assist your needs. From understanding how this may impact the purchase of your property, putting your home on the market, and exploring options to invest in your first property, our expert estate agents in Thetford are here to help.

Call us today on 01842 755422 or email sales@lawsonsestateagents.co.uk

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