Great news! The Stamp Duty holiday on homes up to £500,000 in England has been extended to the end of June 2021 – helping buyers save on average £4,500 on the cost of their new home.
The Stamp Duty holiday extension is welcome news for people at every stage of life who are keen to move into a brand new home, as Francesca Tizzard, Regional Head of Sales & Marketing, at Places for People explains: “This is a really great opportunity for home buyers who are being gifted a huge saving.”
“While concessions are often made to help first-time buyers, this announcement is open to a much broader range of customers – with potential tax savings of up to £15,000 for purchasers who complete their sales by 30 June. This will give buyers a renewed confidence, plus it’s great for the overall market.”
“People are looking for homes which are multi-functional; spaces that are social hubs, workplaces or peaceful havens. This week’s announcement gives buyers a huge incentive to quickly make their move.”
And, to help buyers even further, the government’s introduction of a new low-deposit mortgage guarantee scheme from April will allow people to buy homes with a deposit of just 5%, as Francesca continues: “The new scheme will make ‘mortgage guarantees’ available to current homeowners as well as first-time buyers looking to buy a home worth up to £600,000.”
“It will help buyers who can’t afford a big deposit the chance to buy their own home but the scheme will also be a helping hand to people who have been struggling to move to a more spacious property because of the bigger deposit needed.”
First-time buyers in Scotland meanwhile can look forward to a year-long extension of the Scottish Government’s First Home Fund – which provides up to £25,000 towards the cost of a first home – from 1 April 2021 until 31 March 2022.
Anyone wishing to discover how to find their dream home at Places for People should get in touch and get moving today with zero stamp duty!
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