Budget 2021: stamp duty update

04/03/21

Many homebuyers in England and Northern Ireland will be celebrating today, following the news that the stamp duty holiday, which was due to expire on 31 March 2021, has been extended to 30 June 2021. The extension will help some buyers save thousands of pounds in fees and give the intermediary community more time to help more people.

The Chancellor also announced that the stamp duty nil rate band will then change to double the previous nil rate to £250k from 1 July until the end of September 2021, and will return to its previous £125k rate from 1 October 2021.

A welcome relief

“Today’s announcement will provide certainty and relief to the thousands of families whose house purchases have been teetering on the 31 March cliff edge. It releases the pressure valve from the housing sector and reduces the threat of wasted time, effort and money, should transactions miss the deadline and chains collapse. Skipton wholeheartedly welcomes the changes announced today."

Alex Beavis, Head of Mortgage Products, Skipton Building Society for Intermediaries

Between now and the 30 June we’d encourage you to use our eMortgage system for quick case updates, which will free-up our teams and allow them to help more of you. Obviously, we’ll do whatever we can to minimise disruption while we handle the extra queries.

All information correct at time of publish.

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