Second homes The additional 3 percentage point surcharge will still apply for second homes and investment properties. Even if you are just moving to a new home this surcharge can be charged with a window of six years. For example, if you cannot sell you current home but buy a new home […]
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Trump’s move to stamp out Huawei will hurt US tech
US actions are reshaping the global technology sector into a bifurcated industry – and as the UK did with Huawei gear in 5G networks, countries are being forced to take a side because of the reach of US sanctions and its global influence. Of course, the Trump government is unpredictable […]
Where first-time buyers are being caught out by the stamp duty holiday trap
Competing with investors Before Mr Sunak temporarily changed the rules, first-time buyers purchasing homes worth £500,000 or less already had a full exemption on the value up to £300,000. If a first-time buyer purchased a home that cost more than £500,000, they lost the exemption and their nil-rate band fell back to […]
Stamp duty holiday helps house prices rebound 1.7pc in July
House prices have rebounded this month following the Chancellor’s stamp duty holiday announcement but analysts have called the boost a “false dawn” and warned of steep falls later in the year. Prices are up 1.5pc for the year, growing 1.7pc since June, when prices were down 1.6pc, according to figures […]
Nationwide to restart 90pc mortgages after Chancellor’s stamp duty cut
Nationwide has become the first high street brand to restart mortgage lending to first-time buyers with a 10pc deposit, following the Government’s move to boost activity in the housing market. Britain’s biggest building society restricted its mortgages in June, citing fears that falling house prices could leave high-mortgage borrowers in negative […]
The property hotspots where the stamp duty holiday could create the biggest savings
Meanwhile buyers in London’s Hillingdon and Waltham Forest boroughs will make tax savings of £10,067 and £10,727 against respective house prices of £405,650 and £432,470. There are 80 English local authorities where tax savings are equivalent to more than 2pc of local house prices. All of them are in London, and the […]
How does the stamp duty holiday work for second homes and buy-to-let purchases?
Since April 2016, anyone buying an additional property – essentially, second homes and buy-to-lets – has had to pay an additional 3 percentage points in stamp duty. The charge applies above the normal stamp duty rates. Now the normal stamp duty rates have been cut, those buying an additional home will also […]
How the new stamp duty rules affect you
Property buyers could save thousands of pounds thanks to a new tax break announced today by Chancellor Rishi Sunak. Stamp duty is charged to the majority of people who purchase a home in England and Northern Ireland. However, it has been accused of slowing down the property market and discouraging people […]
Stamp duty holiday would make 88pc of English property transactions tax-free
Chancellor Rishi Sunak is expected to announce plans for a temporary stamp duty holiday that could save the average English homebuyer £6,915. Analysis by Savills estate agency found the move would make 88pc of property transactions exempt from the tax. Mr Sunak has drawn up plans to boost housing transactions in the wake […]
An autumn stamp duty holiday will paralyse the property market
The current, fragile property market is like a house of cards: one gust of wind and it will all come tumbling down. Analysts are predicting that the current surge of sales that started up after restrictions were lifted cannot last. They have forecast that transactions and prices will fall as […]