3 March 2021
IN his Budget today (Wednesday, March 3, 2021), the Chancellor of the Exchequer, Rishi Sunak, made a number of important announcements key to the continued confidence in the UK residential property market.
- A continuation of the Stamp Duty Holiday until June 30, 2021, on all property purchases up to 500,000. In addition, there will be no Stamp Duty charged on residential properties bought for up to 250,000 until the September 30, 2021.
- 95 per cent mortgages for first-time buyers, and existing homeowners, to buy properties worth up to 600,000.
Nick Simpson, Linley & Simpson Co-founder and Managing Director, said: "The property industry was badly hit during the first national COVID-19 lockdown, and the Stamp Duty Holiday which Mr Sunak announced last June was a welcome shot-in-the-arm.