Let’s Get Moving
Well the Government clearly wants to get us moving and that is not to lose those Covid-19 extra lbs that we have all put on but to move house to get the economy kick started.
The Government have made huge changes to Stamp Duty Land Tax (SDLT) for residential properties purchased from the 8th July 2020 until the 31st March 2021.
There is no doubt that this will benefit definitely first time buyers as well as those selling and buying below £500,000.00.
So the good news is if you are buying a property up to £500,000.00 there is zero Stamp Duty to pay.
This is a great time to get your house on the market if its below £500,000.00 and to move home as this reduction in tax that we pay to the Government is going to mean a huge saving.
If you are buying a house for £400,000.00 before the Government changes you would pay £5,000.00 Stamp Duty. If you buy a house for £400,000.00 now you pay zero Stamp Duty.
Should you want to take advantage of this Stamp Duty saving and are keen to move home please contact our residential conveyancing department at Willsons Solicitors for a quote call and ask for Rupa or Steph who will be happy to quote for your sale or purchase on 024 76387821. You can also contact us by clicking here.