Homebuyers worried about stamp duty holiday deadline
Nearly half (48%) of homebuyers are worried that their sale won’t complete before the stamp duty holiday deadline (March 31st), owing to the current delays hitting the market.
Research from high-net-worth mortgage broker Enness Global has found that two thirds (67%) of homebuyers would like to see the stamp duty holiday extended beyond the end of March.
Hugh Wade-Jones, managing director of Enness Global Mortgages, said:
“Unfortunately, all good things must come to an end and it looks unlikely that we will see an extension beyond the original March deadline.
“With the clock ticking, those yet to complete due to current market delays will be forgiven if an air of panic is starting to set in, having had an offer accepted well in advance of the deadline.
“Perhaps a fair alternative to an extension would be to allow those who have an offer formally accepted prior to the end of March to also qualify for stamp duty relief.”
Despite the impact of the stamp duty holiday, only 25% of buyers said they are entering the market due to the stamp duty holiday itself.
Kindly shared by Property Wire