The government recently announced that the temporary stamp duty holiday in England and Northern Ireland has been extended until the end of June.
The news will hopefully come as a relief to buyers and sellers who have been trying to get their sale over the line in time to meet the previous deadline of 31st March.
There has never been a better time to engage the services of My Home Deal and make a double saving on your next home purchase.
What is the temporary stamp duty holiday?
The temporary stamp duty holiday, initially announced by the government on 8th July last year, means that if you are purchasing a home up to the value of £500,000 you will not pay any stamp duty.
The extension means you now have until 30th June to complete a purchase to make the stamp duty saving.
But it isn’t all doom and gloom should you miss the 30th June deadline, because Rishi Sunak (Chancellor of the Exchequer) will smooth the transition back to normal by holding the nil rate band at £250,000, double its standard level, until the end of September 2021.
It will return to the usual threshold of £125,000 on 1st October.
*Remember that first-time buyers will still be exempt from stamp duty if you are buying a property for £300,000 or less.