SDLT Holiday Extension announced in today’s budget. How does this affect Buyers?

Good news for house buyers as Chancellor Rishi Sunak has today confirmed in his budget speech that the stamp duty will be extended. He has stated that property purchases up to a value of £500,000.00 will pay no stamp duty, provided completion takes place on or before 30th of June 2021. Following this, there will no stamp duty payable for purchases up to a value of £250,000 until 30th September 2021, with SDLT rates to return to their previous level on 1st October 2021.

This will of course come as good new to anyone who is currently in the process of buying a property or who intends to purchase a property before 1st October 2021.

For more information contact the Conveyancing legal team on 01942 206060.