It’s crazy to see the influx in house sales as a result of lockdown, from quicker completion dates to the overall volume of properties scaling on the property market. Currently, it is the best time to sell a property and reap the benefits of the current situation. Craven & Company have seen houses fly off the shelves throughout Greater Manchester and to help this have introduced some new incentive schemes to even further help you when it comes to selling your property.
Before jumping into the improved assets to selling your home, flat or studio. The team at Craven and Company in Sale are here to explain how leaving your decision too late may negatively impact you in your property journey as a result of the Stamp Duty Land Tax.
The recent update with Stamp Duty Land Tax (SDLT)
As many of you are aware, SDLT has been a major part of selling and buying properties during the lockdown, influencing many first time buyers to jump on the property leader and reap the benefits of a 0 stamp duty or reduced stamp duty tax.
A recent update has been announced resulting in a further extension of the SDLT.
Rather than ending on the 31st March 2021, the SDLT has actually continued to run until the 30th June 2021 with a nil tax bracket on properties up to £500,000.
This is then set to change once again, positively this will be updated and extended until the 30th September 2021; although only on properties up to £250,000.
Following this final date, this will drop back down to its standard rate of £125,000.
What does this mean for you?
When looking at a property in the selected date range up to the value signified, you are exempt to pay Stamp Duty Land Tax, resulting in a far cheaper completion and more money in your pocket.
Why have properties been flying off the shelves in Greater Manchester?
Since the SDLT ease has helped benefit many home buyers. It has also sparked a giant interest in first home buyers. The ability to get a zero or reduced cost on their properties completion has pushed the property leader sky high.
We have also recently heard of the new scheme in which you can secure a home with a 5% deposit scheme.
This is a great advancement to help first-time buyers get a step into the property ladder without the stress of saving a large sum deposit.
Another factor that has resulted in this incredible influx of property sales is the fact that due to lockdown, many people find themselves bored. Looking for things to do and making those next big steps. With many people working from home or on furlough it allowed the perfect time to renovate your home and make that next big step.
Although many people are back to work as normal, it’s still a great time to consider selling or buying a property to make the most of the rest of the schemes that are currently rolling out.
What have Craven & Company introduced?
This has been addressed in other articles although it’s too good to miss out on!
The amazing expert team at Craven & Company have implemented 2 new schemes to help secure your home sale even faster.
Scheme 1: Refer to a friend scheme, as simple as it sounds. Earn yourself £250 straight into your bank account by simply referring a friend and upon completion with this referred friend, you will receive £250 into your account. The more people you refer to Craven & Company, the more chance of £250 you have to get.
Scheme 2: Instant cash offers; how much better could it get than an instant cash offer that can be completed in as little as 14 days! Selling your home has never been easier, our team can give you a professional valuation and offer to help sell your property as fast as possible.
Do you want to find out more about how our team can help?
Take a look online at our range of services, properties to rent and buy and all about us here at Craven and Company in Sale, Greater Manchester.
We thought you might like this property! It is perfectly located and priced to fall within the SDLT bracket, make the most out of this amazing time and secure your dream home today.