Stamp Duty Holiday Update July 2020

Stamp Duty Holiday Update July 2020

My phone did not stop ringing yesterday! Our premier investors were all saying one thing… BUY! BUY! BUY!

It was a big day for the economy as well as a big day for the property market and investors, I am pleased so say!

Fantastic news for the housing marketing, sellers, buyers, agents and more importantly investors! Thanks to the confirmation of the immediate stamp duty holiday until March 2021. Huge savings for buyers, with the average buyer saving £4,500, but much higher is some parts of the country.

The Stamp Duty Holiday has been put in place to reignite buyer confidence and make the property market strong and at the foundations of the economy bounce back and there is equally great news for Property Investors and great news for us over the coming months for our new purchases and completions before March 2021.

The Investors / Company / Second Purchase Surcharge still counts at 3% but the initial stamp duty land tax doesn’t – What we are going to save, per purchase!

Purchase
Price
Old
Stamp Duty
New
Stamp Duty
Savings Until
March 2021
       
£300,000 £14,000 £9,000 £5,000
£350,000 £18,000 £10,500 £7,500
£400,000 £22,000 £12,000 £10,000
£500,000 £30,000 £15,000 £15,000

We’re already sourcing more properties for our clients than ever before, and if you’d like to make even more savings on your next investment purchase, get in touch today. Use our Investment Portfolio Building Service and get great Below Market Value property deals today!