Simmonds Mortgages

Mortgage Brokers covering Berkshire and beyond

Call: 01344 225 149 or 07979 690 056

Stamp Duty Break For Many Homeowners

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Despite the reopening of the property market in May, some aspiring buyers are still holding back. In a bid to encourage people to get moving, in his Summer Economic Update of 8th July, Chancellor Rishi Sunak announced a 'Stamp Duty Holiday' aimed at helping people feel "confident to buy, sell, renovate, move and improve."

Until 31st March 2021, the usual Stamp Duty threshold of £125,000 has been increased to £500,000. This means that nine out of 10 buyers in England and Northern Ireland will pay no Stamp Duty on homes purchased before April next year, saving them an average of £4,500.

For purchases above £500,000, the rates are as follows:

  • The next £425,000 (portion from £500,001 to £925,000) will be 5%
  • The next £575,000 (portion from £925,001 to £1.5 million) will be 10%
  • The remaining amount (the portion above £1.5 million) will be 12%

Green homes

From September, homeowners will also be able to apply for a £2bn 'Green Home Grant' scheme, which will offer households up to £5,000 to spend on making their home more energy efficient. It's a package that, Mr Sunak said, could save households up to £300 a year on their bills, as well as creating and supporting 140,000 green jobs. Once launched, the government will pay two-thirds of energy-efficient home improvements up to £5,000.

 

 

We can help you!

If you would like more information on the new stamp duty holiday or help with your mortgage as you plan to buy a property please call us on 01344 225 149 or 07979 690 056. Alternatively please send us an email at info@simmondsmortgage.co.uk

 

Your home may be repossessed if you do not keep up repayments on your mortgage

 

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Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.


What our Customers Say...

Your home may be repossessed if you do not keep up repayments on your mortgage.

Simmonds Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Registered Office: Simmonds Mortgage Services Ltd, Lexham House, Forest Road, Binfield, Berkshire, RG42 4HP. Registered Company Number: 1152 8784 Registered in England & Wales.

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There may be a fee for arranging an Equity Release or Lifetime Mortgage and the precise amount will depend on your circumstances. This will typically be £799.00 and is due on completion of the mortgage.

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