Kelly Buckle-Fleming who heads the Residential Property Unit at Raworths Solicitors has urged buyers to move quickly if they hope to benefit from the Stamp Duty holiday.
On 8 July 2020, the Government introduced the holiday which increased the Stamp Duty threshold in England and Northern Ireland to property sales worth up to £500,000. Despite calls for an extension to the scheme, the holiday is expected to end on 31 March 2021 with the previous Stamp Duty thresholds being restored.
Kelly who joined Raworths in April this year said: “The Stamp Duty holiday certainly seems to have achieved its objective in terms of stimulating the market in the Harrogate area and we have been incredibly busy with conveyancing. However, this combined with the fact that many in related businesses are short of staff owing to illness or furlough has meant that significant delays have begun to creep in.”
“We’re seeing delays at all stages of the process from the receipt of mortgage offers to the time it takes to complete local searches and conveyancing hold ups. I would strongly advise anyone looking to profit from the Stamp Duty saving to act now, instruct a solicitor and get the process underway.”
Published on 23 November 2020
To contact Kelly, email: Kelly.Buckle-Fleming@raworths.co.uk