When Does the Stamp Duty Holiday End?
In July last year, the government announced a temporary holiday on stamp duty on the first £500,000 of all home purchases in England and Northern Ireland, to help cut costs for buyers and boost the market.
What is stamp duty?
Stamp duty is the tax levied on property purchases. The tax applies to both freehold and leasehold properties – whether you’re buying outright or with a mortgage. It is calculated on the part of the property purchase price falling within each band.
When does the stamp duty holiday end?
Many buyers are keen to take advantage of the stamp duty holiday which is due to end on 31st March this year. However, while the deadline is 31st March, if buyers want to take advantage of the holiday they will need to begin the home buying process as soon as possible to be able to complete before this date.
Are Shared Ownership homes eligible?
Yes - the stamp duty holiday applies to Shared Ownership, meaning anyone interested in purchasing a home through Shared Ownership may be able to benefit from zero stamp duty to pay.
The stamp duty holiday, combined with the reduced deposit required for a Shared Ownership home, makes buying a part-buy part-rent home even more attractive for those wanting to get on the property ladder.
To take a look at our current portfolio of Shared Ownership homes in London and the South East, check out our website.
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