The Chancellor has today announced a stamp duty holiday to start immediately and run until 31st March 2021. Under the changes, homebuyers will now pay no stamp duty on their main homes up to the £500,000 threshold.
The average stamp duty saving will be £4,500, with nine out of ten buyers this year now paying no stamp duty at all on purchases.
The changes do not include second homes.
Do you have a remortgage or purchase going through with Nationwide or The Mortgage Works at the moment? Each day we will be posting updates from each lender that may apply to your mortgage..
– Nationwide and The Mortgage Works are arranging desktop valuations where possible, meaning a full property inspection is not necessary at this time
– Existing offers can be extended by 90 days to allow additional time for your completion to take place at a later date
Follow the link below to hear advice from the Government for people buying or selling private residential homes: