Stamp Duty holiday ends soon, Connells warns
09 January 2012
With the end of the Stamp Duty holiday looming, local estate agency Connells is warning first-time buyers to act now in order to complete before the cut off date on 24 March 2012.
Until 24 March, first-time buyers have the opportunity to purchase properties worth up to £250,000 without paying any Stamp Duty Land Tax. However, purchases have to complete before midnight when the exemption ends or the tax will revert back to previous rates and first-time buyers will be liable for the charge.
“For two years, first-time buyers have been able to buy their first home without having to pay Stamp Duty if they are purchasing a home worth £250,000 or less,” says Elizabeth Brown, Divisional Managing Director for Connells. “This benefit ends soon so anyone looking to get on the property ladder this year should aim for completion before 24 March in order to save themselves paying the tax.”
Connells are urging prospective buyers to contact the branch as soon as they can in order to maximise their chances of finalising their purchase before the Stamp Duty holiday ends.
“Ideally, buyers need to choose and secure a home as soon as possible to allow time for the sale to go through,” Elizabeth continues. “The next few weeks will be critical and timing is everything, which is why our Connells team are on hand to help explain everything and push things along to try and complete before 24 March 2012.”
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Notes to editors
About the Connells Group:
Founded in 1936 and comprising 481 branches nationwide, the industry-leading Connells Group is the most profitable UK estate agency network. In addition to operating under the Connells brand, the Group trades under other well-known local names including Allen & Harris, Bagshaws Residential, Barnard Marcus, Brown & Merry, Fox & Sons, Jones & Chapman, Manners & Harrison, Roger Platt, Shipways, Swetenhams, William H Brown, Sharman Quinney, Pattison Lane, Burchell Edwards and Ashley Adams. As well as residential property sales and lettings, the Group has a comprehensive range of B2C and B2B services including new homes, mortgage services, conveyancing, EPCs, surveying, corporate lettings, asset management, land & planning, LPA receivers, auctions and relocations. The Connells Group is consistently named Best Large Estate Agency at the Estate Agency of the Year awards, winning the top prize for five of the past seven years. It is also highly acclaimed in the New Homes category, winning Gold five times in the last seven years, and in the Financial Services category for which it currently holds the Gold prize for the second consecutive year. For more information, please visit www.connells.co.uk