04 September 2009
Homebuyers 'should seek deals now'
People looking to buy homes should seek deals now before the stamp duty holiday comes to an end.
This is according to Abbey Mortgages, which pointed out that the cessation of the duty will finish on December 31st.
Last year, the government dropped stamp duty on homes worth £175,000 or less in a bid to stimulate the housing market.
In April 2009, the chancellor announced this will not apply after the end of this year.
"With the holiday coming to an end, anyone looking to buy a property worth more than £125,000 faces a sizeable tax bill if they fail to complete before December 31st," stated Nici Audhlam-Gardiner, director of Abbey Mortgages.
She added that savings of up to £1,750 are at stake for people who have been considering purchasing a home.
Meanwhile, David Hollingworth, head of communications at L&C Mortgages, recently concurred with this, suggesting there may be a rise in the number of home buyers in the run up to December 31st.