A merry time to sell your home - 16/11/20
With new lockdown restrictions in place, we are doing all we can to keep you moving. The Housing Secretary has confirmed that the property market will remain open during this national lockdown, so operating safely will continue to be our top priority.
This year has shown that home is more than where the heart is, and with the Stamp Duty Holiday adding an extra benefit to your next move, you could find yourself in your dream home within the next four months with the added peace of mind of making a big saving.
What is the Stamp Duty Holiday?
Stamp duty is a tax that buyers pay when purchasing a property, calculated as a proportion of the price of the property. In typical circumstances, a property priced up to £125,000 does not have a stamp duty charge; and those priced above have a stamp duty charge starting from 2% of the property price.
With the holiday in place, you could find yourself saving up to £15,000 on stamp duty on any property under £500,000 if the sale is completed by the 31st March 2021.
Zoopla and Dataloft report that only 54% of sales agreed in January will benefit from the Stamp Duty Holiday. However, 92% of sales agreed in November and 82% of sales agreed in December will typically complete in time to benefit from the discount.
What does this mean for you and your property?
As we continue to make our way toward the March deadline, we encourage anyone looking to make a saving from the Stamp Duty Holiday to bring their homes to market sooner rather than later.
We have been carrying out valuations for over 40 years, and we will continue to do so during this time with our safety measures in place. One of our Sales Negotiators will attend your home with PPE to take notes about your property and ascertain its value, or as an alternative, we can arrange a Zoom Video meeting to go through the valuation with you.