The temporary raising of the nil-rate Stamp Duty band threshold to £500,000 ended on 30 June. The measure was introduced in July 2020 to maintain confidence in the housing market during the pandemic.

Don’t despair if you missed the deadline, as there’s now a tapered nil-rate threshold of £250,000 in place until 30 September, meaning that savings can still be made if you purchase a property before October. From 1 October, the normal tax-free threshold of £125,000 will return. If you’re looking to get your property purchase over the line before the September deadline, we can help you assess your mortgage options and get your transaction progressing as swiftly as possible.

 

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. 

Sources: thetimes.co.uk/money-mentor ; gov.uk/stamp-duty-land-tax

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)

For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.

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02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.