How much stamp duty will you save (if you buy before 31st, March 2021)

Are you planning on moving home or buying a property soon? If so, you’ll have probably seen in the news that the chancellor has announced a stamp duty holiday!

We thought we would put together a a quick infographic that shows you just how much you can save, providing your sale completes before 31st March 2021.

Interesting home movers and investors benefit the most, as stamp duty was already exempt for most first time buyers (on the first £300,00). To give you an example, a main home buyer or investor at £350k will save £7,500 and a first-time buyer £2,500. 

Almost 90% of all sales in 2019 were under £500,000 ( In Lancaster & Morecambe this was 98% ) meaning the vast majority of transactions will no longer be liable for any stamp duty. Even in London, where 42% of sales were over £500,000, buyers will save up to £15,000.

We certainly expect to see the higher end market in Lancaster & Morecambe take advantage of this huge saving and are already seeing an increase in interest in these higher value homes.

If you would like to talk about property, please get in touch. At JDG we are here to help. Call us on 01524 843322