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