Post Lockdown

Tuesday, July 28th, 2020

Estate agents have been back to being fully functional for several weeks now, at the time of writing this post – the restrictions were lifted mid May 2020 with a massive impact due to viewings, completions and removals being placed on hold from March.

Zoopla estimated that 373,000 property sales were put on hold at an approximated value of £82 billion.

From reading numerous articles, it would appear that prices in London have been more negatively impacted than surrounding counties, mostly due to the increase in working from home, and the desire to move to properties with gardens and space rather than London commuter convenience.

The Stamp Duty Holiday implemented recently, until 31st March 2021, has help to boost incentives to move, with savings as follows:

House Prices of £300,000 could make potential savings of £5,000

House Prices of £450,000 could make potential savings of £12,500

House Prices of £500,000 could make potential savings of £15,000.

Let’s hope the above Stamp Duty savings will manage to prevent too big a slump in the property market.

Stamp Duty Holiday savings


Stamp Duty

Wednesday, January 24th, 2018

Below you will find a quick reminder of the Stamp Duty tiers for (a) your main home and (b) additional properties.  You also need to account for the cost of legal fees by a solicitor or licensed conveyor that on average cost between £850-£1,500 including VAT at 20% plus local searches that cost approximately £250-300.

       Purchase price of property

    Rate of Stamp Duty

Buy to Let/

Additional Home

£0 – £125,000 0% 3%
£125,001 – £250,000 2% 5%
£250,001 – £925,000 5% 8%
£925,001 – £1,500,000 10% 13%