Beating the Stamp Duty Holiday Deadline

Sand flowing through an hourglass

Stamp Duty Holiday Deadline 31st March 2021

The Stamp Duty Holiday Deadline is 31st March 2021 and action taken now will maximise your chances of beating it!

Time is running out, property transactions can be complex, so it is wise to hedge your bets by ensuring you allow enough time to benefit. The Stamp Duty deadline may seem a long way off although, when viewed in transaction timescale terms, it is much closer than it would appear at first glance. Property transactions vary in duration from acceptance of an offer, they can be affected by many factors and we regularly see sales complete within 6 to 12 weeks.

Sellers looking to capitalise on the abundance of currently active buyers would be wise to list their properties for sale in the coming weeks or risk running the deadline gauntlet as the clock ticks down. Our wide-ranging marketing packages deliver excellent results but a buyer will not always be found during the first few weeks of marketing, although we frequently enjoy early successes.

We have already helped many homeowners sell their properties and we recommend sellers who are considering a move to book their Valuation & Marketing Appraisal appointments now! Any delay in taking the first steps toward selling your property could mean you miss out on eager purchasers maximising the savings provided by the Stamp Duty Holiday

Finding buyers for properties is only half of the equation to be solved before the deadline, the second and contingent part is the legal process from offer stage through to legal completion. There are current delays to the conveyancing process which are largely courtesy of the country’s response to the Covid-19 Coronavirus pandemic and they need to be accounted for.

Many organisations and businesses are operating with different staffing levels and different paces of work when compared to earlier in the year. Some transactions have experienced delays on surveys being carried out, responses to legal enquires being dealt with and required searches being received.

We are mindful of all the points raised above and we have increased our Sales Team numbers accordingly, they are all motivated to find the best buyers and negotiate the best deals. Our vastly experienced Sales Progression Team are committed to assisting the speedy expedition of the sales process, our track record is excellent in this regard.

If you would like to discuss the Stamp Duty deadline, your property’s value or any aspect of the buying and selling process we would love to hear from you. You can visit our offices in Rotherhithe & BermondseyCanary Wharf & DocklandsBow & Bethnal Green and Chislehurst & Bromley or contact us on 020 3941 9966.

Written by Alex Neil Estate Agents

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