SDLT Deadline Looming!

Posted on: 26 October 2020

SDLT Deadline Looming!

The Chancellor's stamp duty land tax (SDLT) holiday is due to end on the 31 March 2021.

At the moment this means that someone buying a property for £500,000 or less pays no SDLT whereas on the 1 April 2021 they will pay £10,000. Prior to this concession or SDLT holiday as it is known SDLT started at £125,000.

First Time Buyers are not affected by this as no SDLT is payable by them for purchases up to £500,000.

If you are looking to take advantage of the SLDT holiday and you haven't agreed a purchase on a property then you are quickly running out of time.  The market is extremely busy at present and sales transactions are taking longer to reach exchange of contracts.

If you have an existing purchase in progress you need to exchange contracts prior to 31 March 2021. To enable this to happen in a very busy market you will need to make sure that you respond to all enquiries as quickly as possible and encourage your solicitor to apply for all searches at the earliest possible date.

Likewise, you should ensure that where you are obtaining a mortgage that your adviser or lender is moving things forward as quickly as possible. As we are acting on your behalf, we are regularly supporting these efforts by regular communication with all parties, but this can only be helped by your input as well.

Here at JB&B Leach we have a wealth of experience in dealing with property transactions in St Helens and making sure that property sales proceed through to exchange and completion as quickly and efficiently as possible.

If you'd like to discuss this or any other property matters with one of our experts then go to our contacts page to get in touch.

Share:


Recent Articles

5 November 2020

Housing Market Breaks Records

Nationwide October House Price index reported an astonishing 5.8% annual house price growth, the highest rise since January 2015. Mortgage approvals were at their highest since September 2007, with 91,454 in the month. Data suggests the recovery of the economy has slowed with only 2.1%...

26 October 2020

SDLT Deadline Looming!

The Chancellor's stamp duty land tax (SDLT) holiday is due to end on the 31 March 2021. At the moment this means that someone buying a property for £500,000 or less pays no SDLT whereas on the 1 April 2021 they will pay £10,000. Prior to this concession or SDLT holiday as it is...

30 September 2020

Price it Right!

Here at JB&B Leach, we take great pride in knowing the local St Helens market.  Our listers know that placing a property on the market at an accurate and realistic asking price is the most important factor in ultimately getting our clients the best price for their property.  If you...

Get an instant online valuation

Find out how much your property is worth