It is reported in the Times this morning that the stamp duty holiday will be extended for a further three months taking it too the end of June, which is great news for buyer’s sellers and professions in the industry. One industry which will be breathing a huge sigh of relief to this news is without doubt the solicitors.
It is rumoured the reason why Rishi Sunak is going to announce this extension is down to a fierce campaign led by a number of agents and major economists. It is believed the chancellor will make the formal announcement in the budget next Wednesday.
However what we don’t know if who will apply for the extension, will it just be the people who have already the sale or purchase of a property or will everyone be applicable.
It must have become apparent through extensive research a large number of people who have already agreed the sale our purchase of a new property was running the risk of missing the deadline. If this was the case, I am sure a significant number of these people may have had no choice to withdraw. This would have been a disaster for both the housing market and the individuals concerned, with so much money and emotion already invested.
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