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🆕 Stamp Duty holiday enters NEW PHASE... 🆕

It’s been a year since the temporary reduction of Stamp Duty and Land Tax (SDLT) rates 📅

➡ For purchases above £250,000 - no more SDLT holiday for you I'm afraid, that ended 30th June 😢
➡ And be aware! From 1st October the SDLT holiday will be over 😭
➡ If you're a First-time Buyer - GOOD NEWS! You pay no SDLT up to £300,000 (and that's not due to end any time soon) 😊

🙋‍♀️ Why even have an SDLT holiday?

✅ It was brought in last July to stimulate the housing market - which's it's definitely helped to achieve 💥
❌ Perhaps too much! An influx of buyers led to RECORD sale prices which saw buyers pay MORE on their purchase price than the actual tax saving! 🤷‍♀️

💬 Simon Wilkinson, owner at The Wilkinson Partnership:

ℹ We have 3 times more registered buyers than usual 👨‍👩‍👦‍👦
ℹ Average time between launching a property to it being sold is 8 days! 🏎
ℹ Several properties have sold for a staggering 20% in excess of the asking price 💹

📢 Did you know? The Stamp Duty tax you pay depends on a wide range of factors, including:

➡ How much you pay for the property 💵
➡ Whether you have a UK passport 🛂
➡ When you buy ⌚
➡ Whether you’re a First-time Buyer 🥇
➡ It also depends on whether you’re buying a main home, a holiday home or an investment property 🏡🌴📊

🔍 Use the Government's Stamp Duty calculator to work out how much you will pay by clicking here: https://lnkd.in/dm4eFdR
🔍 See our SUPER EASY worked example here: https://lnkd.in/dUxRgVh

🔍 Full article from ARLA PROPERTY MARK here: https://www.propertymark.co.uk/resource/stamp-duty-holiday-enters-new-phase.html 

🙋‍♀️ Have you benefited from the SDLT holiday? Or did you miss out on the 30th June deadline due to the conveyancing log-jam? Is it possible to launch a listing now and beat the 30th September deadline? Share your story, views/comments very welcome 👍


#cavendishexperts #sdltholiday #sdltcalculator #propertynews #estateagents #houseexpert #housingmarket2021 Rishi Sunak ARLA Propertymark Propertymark simon wilkinson

Posted 05 July 2021
by Ali Baylav Managing Director Cavendish Residential

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