5th March 2021
Following the announcement by Chancellor Rishi Sunak in the Budget
on Wednesday 3rd March 2021, there is some really positive news for
homebuyers amidst all the current events!
Homebuyers looking to move home soon could benefit from the extension
to the Stamp Duty holiday. The Stamp Duty holiday on properties worth up
to £500,000 will be extended from the end of March until the end of June
and after that there will still be no Stamp Duty to pay on homes worth up to
£250,000 for another three months. After October, the threshold returns to
the usual level of £125,000.
Also announced was a new mortgage guarantee scheme which will enable
UK homebuyers to secure a mortgage up to £600,000 with just a 5%
deposit from selected lenders.
Bev Kemp, Sales Director at McDermott Homes said, “We are delighted
with the recent Budget announcements as they will help many of our
homebuyers. The Stamp duty holiday is a welcome relief to anyone currently
moving home and the new mortgage guarantee scheme will help many
secure mortgages with just a 5% deposit. Our Sales Executives are on hand
and waiting for your calls to assist in anyway they can, to help you find your
Visit mcdermotthomes.co.uk today to discover your nearest development
and to request an appointment to view.