As the clock ticked ever closer to the deadline of the 31st of March, calls for the Stamp Duty Holiday to continue have been answered – with a three-month extension until the end of June, according to The Times. With the Chancellor’s Spring Budget taking place in a matter of days, the much-anticipated, but relatively short-term, extension, is speculated to feature, allowing a backlog of transactions to push through.
Chancellor Rishi Sunak will extend the stamp duty holiday deadline until the end of June - a three month extension.
The lead story in tomorrow’s Times newspaper says the extension - granted after a fierce campaign by agents, and many property commentators and economists - will be announced in the Budget on Wednesday of next week. The article is written by the newspaper’s well-connected political editor Steven Swinford.
Historically, the biggest obstacle first time buyers face is saving up for a deposit. The average age of a first time buyer is steadily rising, as property prices increase and wages remain much the same. It doesn’t take a mathematician to see that this doesn’t add up.
With a Lifetime ISA (LISA), if aged 18-39, saving up to £4,000 a year towards a home (or retirement) gives you a 25% Government cash bonus of up to £1,000 on top, plus you’ll receive the tax-free interest too.
Over the last few months, we have been implementing improvements to our business, our service, and your experience. We have taken into account the feedback that we have received from clients, listening and learning from it. Our aim is to make the process of selling, buying, letting, and renting easier for all, developing methods to coincide with a more flexible and accessible environment – the ‘new normal’. Here are the changes that are already in place, and what is still to come…
Coming into force on May 4th is the new Government scheme, Debt Respite, or ‘Breathing Space’. Administered by the Insolvency Service, it has been created to offer legal protection to those with the common issue of problem debt, which has become increasingly prevalent during the pandemic and economic uncertainty across the country.
We like to keep an eye on the market for our landlords for any potential buy to let investments we believe to be worth considering. This month we have found three! These properties are not on the market with us however if you would like to discuss them and the rental potential then please feel free to contact me.
