Lifeline for Leeds & Ilkley House Buyers & First-time Buyers In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for Leeds and Ilkley properties up to £500,000 will be extended fro
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Lifeline for Leeds & Ilkley House Buyers & First-time Buyers
Lifeline for Leeds & Ilkley House Buyers & First-time Buyers
In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for Leeds and Ilkley properties up to £500,000 will be extended from 31st March 2021 to the 30th June 2021; and to ensure we don’t have a cliff edge, from 1st July 2021, the Stamp Duty Holiday will apply only on properties up to £250,000 until the end of 30th September 2021.
From the 1st October 2021 Stamp Duty thresholds and levels will return to pre-pandemic levels.
To help Leeds and Ilkley first-time buyers, the Chancellor confirmed that there will be Government guaranteed 95% mortgages available from April, on the purchase of properties up to the value of £600,000. This means Leeds & Ilkley first times buyers will be able to buy their first home with just a 5% deposit.
Leeds & Ilkley Landlords will also be pleased there was no statement on Capital Gains Tax, although this will have to be addressed in the years to come.
Leeds & Ilkley tenants, those hardest hit with unemployment and job uncertainty, will also be pleased to hear that the Furlough Scheme will be extended to the 30th September 2021.
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