Stamp duty holiday deadline extended in Spring Budget

Earlier this month the government announced that the temporary stamp duty holiday in England and Northern Ireland has been extended until the end of June.
The news will hopefully come as a relief to those buyers and sellers who have been desperately trying to get their sale completed in time to meet the previous deadline of 31st March.

What is the temporary stamp duty holiday?

The temporary stamp duty holiday, first announced by the government on 8th July last year, means that if you are buying a home up to the value of £500,000 you will not pay any stamp duty.
The extension means you now have until 30th June to complete on the purchase to make the stamp duty saving.
Then, to smooth the transition back to normal, the nil rate band will be £250,000, double its standard level, until the end of September.
It will return to the usual threshold of £125,000 on 1st October.

Clarke Nicklin Financial Planning are experts in Mortgage advice and can help you find the best possible mortgage product that suits your circumstances. Scott Herbert, Partner and IFA at Clarke Nicklin Financial Planning commented:

“The announcement from the chancellor that the stamp duty break has been extended is welcomed news for many people across the UK. This should now take pressure off many people trying to move and complete the purchase of property before the 31 st of March deadline. The extension may provide that additional time to get house purchases over the finish line and take advantage of the tax saving”.

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