Sajid Javid Stamp Duty Plans
Fake News! Sajid Javid has crushed speculation of plans to transfer Stamp Duty from buyers to sellers.
The statement came after TheTimes reported potential plans to change Stamp Duty to sellers so that first time buyers were saved from paying it. The piece was published on Saturday 17th August 2019 and made the claim amid Javid’s declaration that is a ‘low tax guy’. However, many first time buyers are already exempt from paying Stamp Duty, dependent on the value of the home they are buying.
Mr Javid has strongly denied making this claim to The Times via his Twitter account. He acknowledges that bold measures are needed in the housing market but categorically denies this is one of them.
In a confusing picture for the housing market sales and house price figures are, it is suggested, suffering due to Brexit uncertainty. According to property portal Rightmove there has been an unseasonal buying spree so far in August. Whilst August is a traditionally quiet period in the housing market Rightmove state agreed sales are up by 6.1%. The suggestion is that buyers are trying to complete their move before the Brexit deadline of 31st October. And while Brexit has been long looming this latest deadline is believed to be the definitive point of leave.
If you are looking to secure your move before the end of October you need to be organised and prepared. With a smooth, problem free transaction expected to take between 6-8 weeks you really need to get moving if you want to beat the Brexit deadline. Get your mortgage agreed in principle early and get your conveyancing solicitor quotes prepared and you’ll be best placed to move swiftly.
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