"> How much could the Stamp Duty holiday save you?
Mortgage Market News
Mortgage Market News » How much could the Stamp Duty holiday save you?

How much could the Stamp Duty holiday save you?

It’s possibly one of the UK’s most loathed taxes; therefore most of us rejoiced last week when Chancellor Rishi Sunak made all property purchases up to £500,000 exempt from Stamp Duty Land Tax, adding to the measures already in place to help soften the economic impact of recent events.

During this so-called Stamp Duty ‘holiday’, set to last until 31 March 2021, the average buyer will pay no stamp duty when purchasing their home (based on Land Registry average house price[i] of £247,355).

Stamp Duty will only become payable after the value of a purchase hits the half a million-pound mark, or if you are buying a second home or buy to let property. Even in these cases, buyers will experience a significant saving, as we have outlined below.


Source: Daily Mail

Anyone buying a primary home between the values of £600,000 and £1.5m is set to save £15,000 on their purchase, offering a clear window of opportunity to capitalise on a significant tax saving by acting soon.

When it comes to buy to let and second homes, the SDLT holiday also applies, as our table below shows:


Source: Daily Mail[ii]

The changes have been in place just a matter of days and already our team of expert advisers has seen a spike in enquiries from buyers eager to capitalise on these saving whilst they can.

If you’re looking to do the same, please don’t hesitate to get in touch with our team, who can help with a huge variety of financing solutions, from buy to let mortgages and expat lending, to commercial finance and equity release.

Whether you are looking to finance your first home, expand your portfolio or embark on a new development, talk to the experts in large and specialist finance.

Return to the Latest Market News

Latest Articles/News

Case Studies

According to the Office for National Statistics, by 2066 the number of UK r…

Latest/Related News

It’s safe to say that 2020 has been a challenging year for many, but the …

Press Release

The team at largemortgageloans.com has collectively been nominated for thre…

Press Coverage

Lock down your finances for the coming storms…

LML Brochure

Download our brochure to find out more about largemortgageloans.com and what we can offer

Click to Download

Sign Up

Subscribe now, to hear from us on the latest mortgage market news, products and services.

Client Testimonials

Close

Live chat with
our team now

Chat