"Chancellor Rishi Sunak has outlined that Stamp Duty will be extended until June, meaning those who were unable to meet the original deadline of the end of March have been given a welcome extension. What’s more, the floor for paying stamp duty will remain at £250,000 until the end of September, making buying a property over the next six months more affordable.
A second welcomed announcement was the government’s 95% mortgage guarantee to help homeowners who cannot afford to put down a larger deposit. Already, several UK lenders including HSBC, Santander, Lloyds, NatWest and Barclays will offer 95 per cent mortgages from next month, giving that much needed helping hand for first time buyers.
At Tilia Homes, we currently have a variety of properties across the country for sale under £250,000 and we anticipate demand will be high. With so many options now available to buyers, we’re expecting to see a high level of interest from both first-time buyers and families looking to move up the property ladder. With the promise of no upward chain, buying new could be a smart move, so we encourage potential purchasers to move quickly to get deals over the line before the end of September.”
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