Lifeline for Chelmsford House Buyers & Chelmsford First-time Buyers

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 31^st March 2021 to the 30^th June 2021; and to ensure we don’t have a cliff edge, from 1^st July 2021, the Stamp Duty Holiday will apply only on properties up to £250,000 until the end of 30^th 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 30^th 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.

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About Neil Baldock

Born and bred in Chelmsford, Neil went to Tyrells and The Boswells School and still lives in Springfield. A former police officer, Neil is an excellent problem solver for our clients. Neil oversees the Lettings, Property Management and Maintenance portfolio here at CDC and is able to offer specialist advice on all aspects of buy to let and property investment in Chelmsford and all areas of Essex. Neil is happy to offer advice to landlords even where the property is not being purchased through our agency and would welcome an informal chat with you regarding your investments. Neil is also well versed in HMO Management as we are one of the only agencies in Chelmsford which has a specialist HMO and rooms to rent department. Neil is Matthews younger brother and has a son named Michael.

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