Blandy & Blandy’s award-winning residential property team has experienced a 40 per cent increase in new clients during July and August versus 2019, according to team head Manisha Bhula.
In part, the rise follows the introduction of a Stamp Duty ‘holiday’, for those purchasing residential properties before March 31, 2021, introduced by Chancellor Rishi Sunak on July 8, 2020.
It means that during this period, anyone purchasing a main property valued at under £500,000 (including first time buyers, who have been exempt on paying Stamp Duty Land Tax (SDLT) up to £300,000 and have paid five per cent on any portion between £300,000 and £500,000) will pay no SDLT. Buyers of higher value properties will pay a reduced amount of SDLT, saving up to £15,000.
Partner Luke McMath recently appeared on BBC Radio Berkshire to discuss the changes.
Manisha said: “This summer, we have seen record levels of activity in the housing market, boosted by the Government’s Stamp Duty holiday and historically low interest rates.
“Our experienced team is committed to providing clients with clear, practical and effective legal advice, a responsive and highly personal conveyancing service and, crucially, value for money.”
Blandy & Blandy’s specialist team, based in Reading and Henley-on-Thames, is accredited by the Law Society’s Conveyancing Quality Scheme (CQS) and continues to receive outstanding client feedback.
For further information or legal advice, please visit www.blandy.co.uk.
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