The temporary Stamp Duty nil-rate threshold of £500,000 (applicable in England and Northern Ireland) ended on 30th June 2021. A tapered threshold of £250,000 applies until the end of September 2021. From July, the maximum saving buyers can make has fallen from £15,000 to £2,500.
First time buyers continue to pay no stamp duty on purchases up to £300,000.
2021 looks set to be a record-breaking year in many ways. Many local estate agents are reporting ten-year highs in the number of viewings that took place in May 2021 and properties have gone under offer more quickly. Zoopla expect total sales completions this year to be over 1.5 million, marking 2021 as one of the most active sales markets since the global financial crisis and one of the top 10 busiest years since 1959.
Whilst these Stamp Duty savings have assisted many people after the past year, there will always be the right property for your next move, at the right time for you. Whatever the market conditions are, we are here to help you every step of the way.
To speak to our property team today, please contact 01542 846 846.