< Back to blog

House of Commons to debate extension of Stamp Duty Holiday Posted On 18 January 2021

 

Big week ahead for home buyers as the Chancellor considers a Stamp duty holiday extension

 

A petition to extend the Stamp Duty Holiday for an additional six months has reached over 110,000 signatures, and the House of Commons has now confirmed that there will be a debate on the issue.

 

The Chancellor Rishi Sunak is currently considering an extension despite other reports to the contrary over the weekend. This will be a welcome relief to buyers, sellers, agents, conveyancers and sales progressors who are dealing with delays in the sales process.

 

The current deadline of the 31st March is only 10 weeks away, and with the average sale currently taking 16 weeks to go through, it is unlikely that its effects will be felt for much longer, and for those currently going through the process it is a very stressful time.

 

Sunday Times political editor Tim Shipman says the upcoming Budget on the 3rd March is unlikely to produce permanent changes to property taxation but he warns the treasury is considering long-term radical options including the possibility of scrapping SDLT completely.

 

This week will be a big week for many families who are already in the process of buying a property and if an extension comes through expect a huge sigh of relief from everyone involved and a probable upturn in sales agreed much like the boost that happened last year when the Stamp Duty Holiday was initially started.

 

For all the latest up-to-date news regarding the property market and the Stamp Duty Holiday, please like and follow our social media page.

< Back to blog

Connect with us

Recent Posts

Under starter’s orders for a fabulous festive market

  How to Dress your Home to Sell   When selling your home, you deserve the best possible price. Clever interior design can boost the value of your home. Here’s how.   Interior design is a matter of subjectivity, but, when you&rsq...

Read more...

Carers have the right to…

  Can you finish this sentence?   A carer is a family member (or paid helper) who regularly looks after a child, or a sick, elderly, or disabled person. But to be a carer, it takes much more than just showing up. Carers are respectful, empa...

Read more...

Tis The Season to Indulge

Your Guide to a Luxury Christmas   Each Christmas seems to come around more quickly than the last. During the festive season, your home becomes your haven: place to snuggle up in after a frosty winter walk, a retreat after a drinks party wi...

Read more...

Selling Your Home: Value Boosting Tips

5 Ways to Increase the value of your Home When selling your home, you deserve to get the best possible price for it. When adding value to your home, the goal is to ensure you aren’t left out of pocket. Certain projects are quick and easy and will add instant interior appeal whilst others may …

Read more...

Sorry – I’m Booked

Take some Time for You Reading can feel like a luxury. It expands our imagination, improves our memory, and can act as a magical key to other worlds. But, let’s face it, we’re all busy, juggling work, school, family, and friends and reading is often one of the first activities to be shelved. When we …

Read more...