It has just been announced today, by the Chancellor Rishi Sunak, that the threshold for stamp duty land tax will temporarily be raised to £500,000 from today until 31 March 2021.

This means that when buying a property up to and including £499,999 you will not pay any stamp duty, regardless of whether you are a first time buyer or not.

There are no changes to properties above £500,000 – you would still pay stamp duty of any portion above the new temporary threshold.

This is great news for buy to let investors and it will hopefully mean a surge in investment into the sector and a boost to the rebound in the housing market.

Overall, it is projected that 89% of sales will be exempt with an overall saving of £3.8 billion.

South West Relo - your local family agent

Family run, our tenants and landlords love the fact we take personal care in what we do to help customers.

Here at SWR, our business model is not to undercut or price match other agents. We offer you the most comprehensive and personalised service to protect your valuable and important investments whilst making the journey of being a landlord as “stress free” as possible.

Come and visit us at The Stables and let’s discuss how we can help you with your property management needs.