Earlier this year the Chancellor declared a stamp duty holiday, which saw the threshold temporarily raised from £125,000 to £500,000; meaning that nearly nine out of 10 transactions will no longer be subject to stamp duty*.
This stamp duty holiday comes to an end on 31st March 2021. If you’ve been thinking of selling, we strongly advise that you put your property on the market now to avoid missing out!
Things to keep in mind…
You must complete by March 31st 2021 to qualify
Don’t play Russian roulette - allow plenty of time between listing your property and completion. If your completion date goes past March 31st, you will be liable to pay stamp duty; even if you have exchanged contracts.
There is more pressure on property lawyers
With the mass volume of property sales going through, property lawyers are under more pressure. This can potentially slow down the moving process.
Don’t delay in getting the ball rolling. The time to act is now.
You’re in good hands…
According to research carried out by Rightmove, towns in the East of England have seen the biggest annual rise in new listings - your dream home is out there!
Mike Sharman, Managing Director, comments:
“Whilst trading was expected to return to a certain degree following lockdown, the level of activity and the results remain outstanding throughout the Sharman Quinney Group network.
“The Residential Sales Market is basking in the stamp duty holiday. Fuelled by record levels of new buyers entering the market, we are experiencing an underestimated yet unique time.
“We are blessed with great people who know how to deliver great results. In August alone we returned an increase of 88% on sales agreed vs August 2019** and although August is renowned for slowing down due to the typical holiday season, it is clear buyers have used the time in not going away and decided to turn their focus on buying their new home.
“We are amazed at the levels of buyers registering with our branches and how keen they are to get moving. In turn, we are also placing a substantial level of mortgage applications on their behalf with more buyers feeling very optimistic about the local and national property marketplace.”
Get in touch today if you would like to put your home on the market and save on Stamp Duty!
You can do this by calling us on 01799 513632
or visit us at https://www.kevinhenry.co.uk/branches/saffron-walden.