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Last chance for people to take advantage of stamp duty holiday

Kate Patrick, of H&H Land & Estates

People should take advantage of the stamp duty holiday, a leading property company said.

H&H Land & Estates said the holiday, introduced in July, has benefited buyers and sellers during the coronavirus pandemic.

With the revert back to normal now on the horizon, Kate Patrick, head of estate agency at H&H Land & Estates, said: “The temporary stamp duty changes really have brought some much-needed positivity into the property sector.

“Like many industries, the housing market experienced considerable frustration throughout the first lockdown, however I am pleased to say that since this time, the property market has been encouraging and the stamp duty holiday has undoubtedly enticed a huge number of buyers to the fore.

“Usually the winter months of the year tend to be quieter, though this certainly does not seem to be the case this season.

“With stamp duty expected to be reinstated on April 1 again, I would encourage anyone looking to purchase a property to act now to take advantage of this one-off offer from the Government.

“If you are looking to progress up the property ladder, the stamp duty holiday gives you the opportunity to save quite literally thousands of pounds.

“To use an example, if you buy a house which costs £275,000 after April 1, the stamp duty that you will have to pay will be £3,750.

“If you purchase the property before April 1 however, it will not be subject to any stamp duty.

“This saves you £3,750, which could instead be put towards the deposit or towards decorating your new home.”

This does apply if you already own a home or are buying a a property as a buy to let.

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