UPDATED

Commentary: Rightmove warns 100,000 buyers are on track for unexpected Stamp Duty bill

NEWS
COMMENTARY
GUIDE

We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.

Many buyers will still be entering the market this side of the festive period with hopes of securing a stamp duty holiday discount. The unfortunate reality is that they have more chance of seeing Matt Hancock answer a question with a straight answer than they do completing on a sale with current market delays. To describe the current logjam as mammoth is no exaggeration and while you could argue it’s a great problem to have, homebuyers stuck in the waiting room of the UK property market will be desperately hoping their ticket number is called prior to the end of March.

Rightmove warning on SDLT

"

Will the current Stamp Duty holiday be extended?

Many buyers will still be entering the market this side of the festive period with hopes of securing a stamp duty holiday discount. The unfortunate reality is that they have more chance of seeing Matt Hancock answer a question with a straight answer than they do completing on a sale with current market delays.

Current market backlog

To describe the current logjam as mammoth is no exaggeration and while you could argue it’s a great problem to have, homebuyers stuck in the waiting room of the UK property market will be desperately hoping their ticket number is called prior to the end of March. If not, and if the government decide not to extend the current Stamp Duty holiday, then they'll be hit with a hefty (and unexpected) Stamp Duty bill.

This could push many already-stretched buyers over the edge financially, and put the purchase financially out of reach for them. What follows? Sales fall through, and properties go back to the market. When this happens, our "we buy any house" service tends to have a surge in enquiries, as sellers are left scrambling to repair a chain after their house sale has fallen through. The Government are under increasing pressure to extend the Stamp Duty holiday, to give home buyers (and sellers) peace of mind.

Other solutions (to cut the queue and get your home sold)

For home sellers sick of the uncertainty and backlogs, remember you can sell your house fast using our dedicated home-buying service. We can make you a formal offer within 24 hours, and complete in as little as 14 days. Contact our team to learn more and to receive an offer.

"

Will the current Stamp Duty holiday be extended?

Many buyers will still be entering the market this side of the festive period with hopes of securing a stamp duty holiday discount. The unfortunate reality is that they have more chance of seeing Matt Hancock answer a question with a straight answer than they do completing on a sale with current market delays.

Current market backlog

To describe the current logjam as mammoth is no exaggeration and while you could argue it’s a great problem to have, homebuyers stuck in the waiting room of the UK property market will be desperately hoping their ticket number is called prior to the end of March. If not, and if the government decide not to extend the current Stamp Duty holiday, then they'll be hit with a hefty (and unexpected) Stamp Duty bill.

This could push many already-stretched buyers over the edge financially, and put the purchase financially out of reach for them. What follows? Sales fall through, and properties go back to the market. When this happens, our "we buy any house" service tends to have a surge in enquiries, as sellers are left scrambling to repair a chain after their house sale has fallen through. The Government are under increasing pressure to extend the Stamp Duty holiday, to give home buyers (and sellers) peace of mind.

Other solutions (to cut the queue and get your home sold)

For home sellers sick of the uncertainty and backlogs, remember you can sell your house fast using our dedicated home-buying service. We can make you a formal offer within 24 hours, and complete in as little as 14 days. Contact our team to learn more and to receive an offer.

IN THE NEWS

Browse coverage of this news piece

Our research, guides and commentary are picked up weekly by journalists at national and regional news outlets. See where this one has been covered so far.

January 18, 2021
PRINT ONLY
Rightmove warns that 100,000 buyers on track for unexpected stamp duty bill
January 18, 2021
PRINT ONLY
Rightmove warns 100,000 buyers on track for unexpected stamp duty bill

A BIT ABOUT US...

Selling your home to Yes Homebuyers

  • Yes Homebuyers buy your home directly from you so you can sell your house fast and avoid waiting around to find a buyer on the regular market. 
  • We offer flexible timeframes to suit you and on average, complete a sale within 30 days. 
  • Yes Homebuyers' quickest completed purchase was made in six days. 
  • We guarantee the price we will pay, unlike some buying platforms who reduce their offer shortly before completion.
  • There are no fees or costs involved and we cover all legal fees involved.
  • There are no contracts or tie-ins even if you accept an offer, and no viewings to take care of.

IN THE NEWS

Latest Insights

We share our experts' weekly research articles free of charge.

Timely insights and analysis from our experts

Covering today's most important property topics

Featured weekly in national and regional news

As featured in

...AND MANY MORE

FREE VALUATION
No Obligation

Ready for a faster house sale?
Let's get started.

Get An Offer