Newton Fallowell – Stamp Duty holiday

from Discovering Bourne issue 109, September 2020

by Discovering Magazines

Citizens Advice – Seeking volunteers

Stamp Duty “Holiday”

POTENTIAL FOR MASSIVE SAVINGS!

BY JASON TREADWELL, MANAGING DIRECTOR

On July 8th 2020, Chancellor of

the Exchequer, Rishi Sunak, announced that there will be no Stamp Duty on homes selling for £500,000 or less (for those not purchasing a second home).

This temporary “holiday” will last until the end of March 2021. This has created the potential saving of thousands of pounds for homeowners, even for investment purchasers.

Here at Newton Fallowell, we have certainly noticed an increase in activity for the Bourne property market.

The latter end of May and June was a very buoyant time for the market, with many homeowners selling. They had perhaps intended to move sooner, but had found the lockdown having restricted this from happening. The Stamp Duty “holiday” has allowed the market to remain buoyant, with many homeowners, who had been ‘on the fence’ towards moving, deciding now to be as good a time as ever, given the potential savings they could make. If you are considering capitalising on what remains an active local market, as well as the potential savings you could make, then please do not hesitate to contact Newton Fallowell.

Whether you require financial advice, a valuation for your property or assistance in finding your next home, call your local Bourne experts on 01778 422567.

Here at Newton Fallowell Stamford, Oakham and Bourne, over the last three months, we have been running, cycling and walking 1,000 miles to raise money for our fantastic NHS. To donate, please visit: www.justgiving. com/fundraising/NewtonFallowell (#nf1000milechallenge)