Category: General

It was announced that the stamp duty holiday which was originally going to come to an end on 31 March 2021 has now been extended Overview You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland. The tax is different if… Continue reading Stamp Duty Newsflash – Budget Announcement

The government will offer incentives to lenders, bringing back 95% mortgages which have “virtually disappeared” during the pandemic, the Treasury says. Chancellor Rishi Sunak says public finances are facing a “challenge” from the pandemic’s impact on the economy. The government has borrowed £271bn this financial year – up £222bn on 2019-20. This has pushed the… Continue reading Budget 2021: Mortgage guarantee to help buyers with 5% deposit

Propertymark’s Chief Policy Advisor Mark Hayward has today welcomed speculation in The Times that the Chancellor may extend the Stamp Duty Holiday in England until the end of June, in next week’s budget. Since the relief was announced, Propertymark members have collectively lobbied the UK Government to avoid a cliff edge leading thousands of sales… Continue reading Possible stamp duty extension

1. Auction (under the hammer) When a property is sold by Auction the successful bidder will have to sign the contract there and then and pay a 10% deposit with completion to take place 28 days thereafter, when the remainder of the monies will have to be paid in full. 2. Bridging Loan Temporary finance… Continue reading Baker Wynne & Wilson’s Glossary of Terms

Main points UK average house prices increased by 8.5% over the year to December 2020, up from 7.1% in November 2020, to stand at a record high of £252,000; this is the highest annual growth rate the UK has seen since October 2014. Average house prices increased over the year in England to £269,000 (8.5%),… Continue reading UK House Price Index: December 2020