The Government has announced that buyers will now pay ZERO Stamp Duty on properties under £500,000 – meaning it’s cheaper than ever to move home.
The Stamp Duty holiday will run until 31st March 2021, meaning it’s cheaper than ever to move home. And, it will make selling your current home easier too, with more willing buyers in the market who will potentially pay no Stamp Duty!
The move is great news for customers looking to downsize; if purchasing a home under the threshold, these buyers will pay no Stamp Duty and will benefit from the impact on activity in the property chain. Catriona Hill-Scanlon, Head of Sales at Brio, explains: “This is welcome news for buyers looking to downsize in the current market. Aside from the primary benefit that comes with paying zero Stamp Duty, this move is likely to encourage buyers down the chain to proceed – as they will pay less or no Stamp Duty when buying your current home.”
“Upon announcing the news, the Chancellor estimated that nine out of ten purchasers will benefit from saving, that’s certainly the case for downsizers who will have a renewed confidence in the market. Plus with the savings on Stamp Duty our customers will have that little bit of extra money to treat themselves which is always a nice bonus.”
Anyone wishing to discover how to join one of our Brio Retirement communities should get in touch and get moving today with zero stamp duty!