The Stamp Duty Holiday introduced by the Government presents a fantastic opportunity for buyers and sellers to save money on their purchase as long as it completes before 31st March 2021. Don’t miss out.
Homebuyers across England have already saved £108m through the stamp duty holiday, analysis of Land Registry data reveals. You might think that the 31st March 2021 deadline is far away, and you still have plenty of time, but time is running out, and here’s why…
Benefits for Buyers and Sellers
The Stamp Duty Holiday does represent an amazing opportunity for buyers to save money, and sellers to capitalise on increased interest.
The holiday was designed to stimulate the market and has achieved this almost overnight with unprecedented levels of buyer interest in property, and new properties coming to the market.
You can take advantage of the holiday but remember your property sale must complete prior to the 31st March 2021 in order for you to be eligible. One day later, and the stamp duty will once again become due and payable. This means if you don’t sell your house quickly, and to the right buyer, you could miss out.
If you were thinking of putting your house on the market now or just after Christmas, then now is the time to do it – right now. You need to do so with an agent that knows your
market, pre-qualifies your buyers, and can effectively market your property to drive the most amount of interest in the shortest amount of time.
If you are a seller without an onward purchase, you might think the Stamp Duty Holiday doesn’t apply to you as you aren’t buying a property, but you’d be wrong. There is now expectation from buyers that they will make this saving. If your property sale drags on and cannot complete before the deadline, your buyer will lose out on that saving. Where do you think a buyer will look to recover that lost saving from?
For buyers, you might be wondering what you can do to take advantage of this saving. Ultimately, you have to ensure that the property sale completes before the 31st March 2021. To help speed things along we have introduced virtual tours for our properties, giving you an opportunity to identify and view properties virtually to find the right property for you. The virtual tours mean you can easily discount the properties you are not interested in, making your property search much quicker, as you will only view in person the properties you are truly interested in.
We would also recommend that you speak to a mortgage adviser, even if you have a Mortgage in Principle, or a Decision in Principle in place. These “In Principle” offers are usually carried out on limited information. Once you require an actual mortgage there could be things you forgot to declare, things that were missed with your credit score, and a hundred other potential problems. Speaking to a mortgage adviser could potentially save you the heartache of making an offer, and then being refused at the last hurdle if your mortgage application falls through.
Feel ready to get moving? Here’s an incredible selection of homes on the market right now with ZERO stamp duty…
A stunning three-bedroom, two-bathroom, upper maisonette in central Hove moments from the seafront, with a private roof terrace with sea views. Offering no onward chain.
This charming 3 bedroom character property is located in the sought after village of Keymer and has an end of terrace position with stunning views towards the South Downs.
This attractive cottage is situated in a rural village, surrounded by glorious open countryside, footpaths, and bridleways connecting to the beautiful South Downs.
Set above the city in the Withdean area of Brighton, this area is predominantly substantial family homes. The property is suitable for those with a local connection, or a need for excellent access to the A27, or who simply for those who want to enjoy a slower pace in this tree-lined residential area.
This property, on Marine Parade, on Brighton’s seafront, is in a Grade II listed Regency building. It is a popular location, as you have the hustle and bustle of Kemp Town village behind you, with its array of artisan cafes, boutique shops, restaurants, and delicatessens.
This stunning Grade II listed Regency building can be found in the very heart of Hove with the seafront quite literally at the bottom of the road.
There are also a range of other properties on the market which offer a substantial saving with the stamp duty holiday. Click here to explore them. If you’re looking to sell yours in time for a buyer to take advantage, get in touch for advice and to get started.