COVID-19 – Stamp Duty Holiday Due to be Extended!

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According to a report made by The Times, Rishi Sunak is reportedly preparing to extend the stamp duty holiday that’s currently in place due to the Coronavirus pandemic.

Initially set to end next month, it’s now expected that the Chancellor will announce an extension to the scheme in his budget announcement on 3rd March, which will see it run until the end of June. 

Launched in July 2020 in a bid to boost the UK property market as the country was battling with the impact of the national lockdown, the stamp duty holiday allows first-time buyers to purchase a home up to the value of £500,000 without having to pay stamp duty land tax. 

A similar offer was made to existing homeowners, who would only have to pay 3% stamp duty on the purchase of a property with a value of up to £500,000. 

It is also reported that the Chancellor may be expected to extend the furlough scheme once more, from the existing closing date of 30th April, to the end of June. 

 

Are you looking for a reliable solicitor to help you complete the sale of your home? 

At DRN, we know that buying a house is one of the most important, and expensive, decisions of your life. 

Our dedicated team of conveyancers are all highly experienced and fully qualified, committed to ensuring every stage of your property purchase goes smoothly. 

We offer a comprehensive range of property services, many of which are available as part of our fixed price conveyancing package. 

At DRN, we aim to offer complete transparency, which is why there are no hidden costs added to our conveyancing fees. We don’t charge anything extra for bank transfers, completing forms, dealing with leasehold titles, handling mortgages, or any other general administrative tasks. 

We’re also accredited by the Law Society’s Conveyancing Quality Scheme – the mark of excellence for those involved in property law. 

 

Ready to buy or sell your next home? Contact our team today on 01282 433241, and we’ll be happy to help! 

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