STAMP DUTY – UPDATE

As the current deadline for Stamp duty relief gets closer (March 31st), rumours continue about a deadline extension, it is unlikely we will know too much more until the ‘Budget’ on March 3rd.

Some figures indicate that up to 20% of purchasers, who started their journey late summer, will potentially miss out on the Stamp Duty saving.
In some areas supply and demand is pushing prices up…with sellers cashing in and buyers prepared to pay a little more as they stand to save up to £15,000 in SDLT.
The industry could see this coming and we have been advising vendors and purchasers to be realistic in their pricing and timescales and instruct good proactive Estate Agents and Solicitors that can work together.
Don’t be tempted to over price your property and reduce it after a few weeks, if there is little serious interest, those days have gone. Bring your property to the market at a realistic price and get your paperwork together to minimise delays