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Latest time to buy a house before Stamp Duty/LTT Holiday ends?
DonRoddy
Posts: 22 Forumite
As our house search continues, I am wondering what would be the latest we can buy a house to take advantage of the stamp duty holiday.
Do we have to complete before 31st march? If so, given 12 weeks average time to complete, that means realistically we will only be safe to buy until the end of december...which is unfortunate because I think houses will not be on sale during the next few months.
We are looking at houses in both england and wales so the LTT is relevant too.
Do we have to complete before 31st march? If so, given 12 weeks average time to complete, that means realistically we will only be safe to buy until the end of december...which is unfortunate because I think houses will not be on sale during the next few months.
We are looking at houses in both england and wales so the LTT is relevant too.
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Comments
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Yes, you need to complete, rather than exchange contracts by 31 March 2020. There is an article which mentions this here: https://www.blakemorgan.co.uk/stamp-duty-land-tax-holiday/1
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How long is a piece of string? Depends on chain - and circumstances - it could be quick - but 3 months is average HOWEVER, far longer is not unheard of. If it were me and I was reliant on completing before end of March I'd be wanting to get a move on - it doesn't take much to happen to take things to the wire.1
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Thanks, we've been viewing houses non stop since the before the start of July and have sold ours/moving in with family in the mean time so we are "getting a move on". Unfortunately the market has not been kind to us with poor estate agents and gazumpingiwb100 said:How long is a piece of string? Depends on chain - and circumstances - it could be quick - but 3 months is average HOWEVER, far longer is not unheard of. If it were me and I was reliant on completing before end of March I'd be wanting to get a move on - it doesn't take much to happen to take things to the wire.0
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