Your Stamp Duty Holiday Home

6 March 2021

The Government’s stamp duty tax relief has been extended until June, the Chancellor announced in the Budget.

The temporary stamp duty holiday for homes worth up to £500,000 was due to expire on March 31 but has been extended by three months until June. From July, the tax-free threshold will drop for homebuyers to £250,000 until September and then return to its standard limit at £125,000 from October.

The holiday was first introduced last year to reignite the UK housing market following months of closure during the first coronavirus lockdown.

In July, the government raised the stamp duty threshold from £125,000 to £500,000, helping boost market activity and sending house prices rocketing. 

The extension of the stamp duty holiday will provide relief for people buying and selling homes. The extension will provide significant relief to people who were stuck in the middle of the buying and selling process, but it is also likely to give another kick-start to the property market.

The extension means anyone completing a purchase on the main residence costing up to £500,000 before 30 June will not pay any stamp duty. More expensive properties would only be taxed on their value above that amount.

There is still time to complete sales for first-time buyers before the end of the tax break. If you are looking for a home that is eligible for a stamp duty holiday scheme, here are some properties that might tick all the boxes in your search for a perfect home.

The Griffin

 

An especially fine and elegant traditional double-fronted Village Cottage believed to date from 1672 and positioned within a few yards of the beautiful Village Square of the lovely Market Town of Broughton in Furness, which is within the Lake District National Park. Access to the Southern and unspoilt Western Lakes is very easy, so it is an ideal location for those who are “Lakeland Lovers”.

The Cottage retains many original features, including multi-paned bow windows and exposed beams. The Cottage has a central Hallway with doors leading off either side to the Lounge, Dining Room, Cellar, Step-down Store, Kitchen and Snug. The gorgeous stairway leads to the Upper Floor, on which there are three very spacious Bedrooms (genuine full “doubles”) and a huge Bathroom. 

“The Griffin” is a lovely true Cottage with many admirable features and occupying a splendid central village location and is offered for sale with the benefit of No Chain.

Price: £330,000

Copper Rigg

 

This stunning two bedroom end terrace modern cottage within a 2-row development was built in 2016.

Ideally situated in the heart of Broughton in Furness, the property is just a short walk to all the fantastic local amenities that this hidden gem of a market town has to offer, including pubs, restaurants, primary school, post office, medical centre and church.

The property boasts an allocated parking space adjacent to the house and a small stone-walled outdoor space that currently houses slate-roofed storage space. This could easily be converted into a cosy outdoor dining area which would be totally private thanks to its location next to the property. The accommodation is beautifully presented and has been tastefully decorated by the current owners. Neutral tones and freshly load flooring and carpets throughout make this house clean, light, and airy and will appeal to a wide variety of buyers looking for open plan living.

Price: £195,000

 

Kirk Shephard – Independent Estate Agent

kirk.shephard@exp.uk.com
07784 375 181