3rd of Feb 2021 the news was published that the Chief Policy Advisor ,Mark Hayward, has announced that there is an extension to the stamp duty land tax and that it is concerning and worrying that if we do not exted then there will be a thousands of sales to fall at the final hurdle and have a knock on and drastic effect on the housing market which has recovered well from the Covid-19 slump.
The trade assiociation are thinking of new ideas to help the market which includes extending the stamp duty holiday deadline from the 31st of March 2021. This proposal has been passed onto the solicitors so that they can prepare for exchange.
Due to the ongoing impact of the Coronavirus pandemic many potential buyers are in a proceedable position but waiting for conveyancing, mortgage offers and searches from overstretched local authorities to be returned.
An extension to the Help to Buy scheme for first time buyers should be extended, raise the Local Housing Allowance and establish a fund to help both landlords and tenants clear the rapidly-growing rent arrears debt mountain.
But there is still progress to be made and we’re calling upon the government to make these recommended changes in order to continue to support agents, landlords, consumers and the wider housing market.