In the last few hours, the Chancellor of the Exchequer, Rishi Sunak, has stated the Stamp Duty Holiday for 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 first-time buyers, the Chancellor confirmed that there will be Government guaranteed 95% mortgages available from April this year, on the purchase of properties up to the value of £600,000. This means Cornwall first times buyers will be able to buy their first home with just a 5% deposit.
Cornwall based 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.
The Mather Partnership is an independent estate agent in Cornwall, specialising in property for sale in South West Cornwall. We are based in Helston, the gateway to the Lizard Peninsula and the stunning Helford River, close to the Cornish seaside destinations of Porthleven, Mullion, Coverack and Praa Sands
