Lifeline for Sawbridgeworth and Bishop’s Stortford House Buyers & Sawbridgeworth and Bishop’s Stortford First-time Buyers - Sawbridgeworth Property Blog Book a Property Valuation

Lifeline for Sawbridgeworth and Bishop’s Stortford House Buyers & Sawbridgeworth and Bishop’s Stortford First-time Buyers

Lifeline for Sawbridgeworth and Bishop’s Stortford House Buyers & Sawbridgeworth and Bishop’s Stortford First-time Buyers

Market News Default Author 3rd March 2021

In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for Sawbridgeworth and Bishop’s Stortford properties up to £500,000 will be extended from 31st March 2021 to the 30th June 2021; and to ensure we don’t have a cliff edge, from 1st July 2021, the Stamp Duty Holiday will apply only on properties up to £250,000 until the end of 30th September 2021. 

From the 1st October 2021 Stamp Duty thresholds and levels will return to pre-pandemic levels.

To help Sawbridgeworth and Bishop’s Stortford first-time buyers, the Chancellor confirmed that there will be Government guaranteed 95% mortgages available from April, on the purchase of properties up to the value of £600,000. This means Sawbridgeworth and Bishop’s Stortford first times buyers will be able to buy their first home with just a 5% deposit.

Sawbridgeworth and Bishop’s Stortford  Landlords will also be pleased there was no statement on Capital Gains Tax, although this will have to be addressed in the years to come.

Sawbridgeworth and Bishop’s Stortford tenants, those hardest hit with unemployment and job uncertainty, will also be pleased to hear that the Furlough Scheme will be extended to the 30th September 2021.

It is my intention to publish a greater in-depth article early/mid next week to discuss these topics and what it actually means at a more granular level for Sawbridgeworth and Bishop’s Stortford  homeowners, Sawbridgeworth and Bishop’s Stortford  property buyers, Sawbridgeworth and Bishop’s Stortford tenants and Sawbridgeworth and Bishop’s Stortford landlords.

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