Great news! The Stamp Duty holiday on homes up to £500,000 in England has been extended to the end of June 2021 – helping buyers save on average £4,500 on the cost of their new home.
The Stamp Duty holiday extension is welcome news for people at every stage of life who are keen to move into a brand new home, as Jacqui Egan, Sales & Marketing Director, at ZeroC explains: “This is a really great opportunity for home buyers who are being gifted a huge saving.”
“While concessions are often made to help first-time buyers, this announcement is open to a much broader range of customers – with potential tax savings of up to £15,000 for purchasers who complete their sales by 30 June. This will give buyers a renewed confidence, plus it’s great for the overall market.”
“People are looking for homes which are multi-functional; spaces that are social hubs, workplaces or peaceful havens. This week’s announcement gives buyers a huge incentive to quickly make their move.”
And, to help buyers even further, the government’s introduction of a new low-deposit mortgage guarantee scheme from April will allow people to buy homes with a deposit of just 5%, as Jacqui continues: “The new scheme will make ‘mortgage guarantees’ available to current homeowners as well as first-time buyers looking to buy a home worth up to £600,000.”
“It will help buyers who can’t afford a big deposit the chance to buy their own home but the scheme will also be a helping hand to people who have been struggling to move to a more spacious property because of the bigger deposit needed.”
First-time buyers in Scotland meanwhile can look forward to a year-long extension of the Scottish Government’s First Home Fund – which provides up to £25,000 towards the cost of a first home – from 1 April 2021 until 31 March 2022.
Anyone wishing to discover how to find their dream home at ZeroC should get in touch and get moving today with zero stamp duty!