In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for Chelmsford properties up to £500,000 will be extended from 31st March 2021 to the 30th June 2021; and to ensure we don’t have a cliff edge, from 1st July 2021, the Stamp Duty Holiday will apply only on properties up to £250,000 until the end of 30th September 2021.
From the 1st October 2021 Stamp Duty thresholds and levels will return to pre-pandemic levels.
To help Chelmsford first-time buyers, the Chancellor confirmed that there will be Government guaranteed 95% mortgages available from April, on the purchase of properties up to the value of £600,000. This means Chelmsford first times buyers will be able to buy their first home with just a 5% deposit.
Chelmsford landlords will also be pleased there was no statement on Capital Gains Tax, although this will have to be addressed in the years to come.
Chelmsford tenants, those hardest hit with unemployment and job uncertainty, will also be pleased to hear that the Furlough Scheme will be extended to the 30th September 2021.
It is my intention to publish a greater in-depth article early/mid next week to discuss these topics and what it actually means at a more granular level for homeowners, Chelmsford property buyers, Chelmsford tenants and Chelmsford landlords.
- How to wow buyers with your Chelmsford home’s kerb appeal - 17th April 2021
- The Danger Of Over Valuing In The Chelmsford Market - 16th April 2021
- Over 1 in 3 Chelmsford Properties Being Sold with No Chain - 10th April 2021
- Why now, more than ever, it is essential to choose the right estate agent to sell your home in Chelmsford - 9th April 2021
- Top Tips to make moving in together in Chelmsford a success - 3rd April 2021
- Chelmsford Property Market: 2011-2021 - 1st April 2021
- The ‘search for space’ is driving buyers in Chelmsford - 26th March 2021
- Chelmsford Property Market improved by 34.9% over pre-pandemic levels - 24th March 2021
- How to manage the stress of moving home in Chelmsford. - 20th March 2021
- Chelmsford First-Time Buyers Can Now Buy Using 5% Deposit Mortgages - 17th March 2021