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Save Money on Your Next Home Move

How to save up to £15,000 on your next home move

Stamp Duty Savings

 

Stamp Duty is the shorthand reference for Stamp Duty Land Tax (SDLT) and is a form of tax that is paid when you purchase property or land above a certain price threshold in England or Northern Ireland.

 

Back in July the UK government introduced a Stamp Duty holiday which was aimed to boost our country’s housing market during the current pandemic.  Set to run until 31st March 2021, this means that purchasers who are buying their main residence will pay zero stamp duty on properties worth up to £500,000 until that time.

 

According to the Home Owners Alliance, the average time to sell a home in the UK is approximately six months, so getting your property on the market by the end of October would be ideal so you can take advantage of such a fantastic saving.

 

Of course, we hope that it wont take six months to sell your property, and here at Michael Anthony we do everything possible to ensure that your sale is right on track.  Our wonderful sales progression team work tirelessly behind the scenes to ensure a smooth transition from the point that your sale is agreed to the day that you take possession of the keys to your brand new home.

 

As of 1st April, the Stamp Duty will once again go back up to previous levels unless the property you purchase is less than the threshold, so it is definitely worth taking advantage of the stamp duty holiday while you can.

 

*For Property purchases from 1 April 2021 the SDLT thresholds will be:

 

£125,000 for residential properties

£150,000 for non-residential land and properties

 

This means that you could have a potential saving of up to £15,000 if you act soon.

 

So what are you waiting for? Take advantage of this amazing opportunity and contact us today to hear how we can help you.

 

*https://www.gov.uk/stamp-duty-land-tax

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20.10.20

By Sherry Hostler


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