With new lockdown restrictions in place, we are doing all we can to keep you moving to where you want to be. 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 significant 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.
With our safety measures in place, we are still carrying out valuations, as well as physical viewings where possible. At Redbrik, we also offer an all-inclusive selling package that is designed to make selling your home stress-free. Your bespoke package will include marketing, selling and legal fees to reduce fall throughs and make your move as simple as possible.