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Mark Harris: Still time to meet stamp duty deadline

Jake Carter

November 18, 2020

stamp duty

There is still plenty of time for buyers to purchase a property in time for the stamp duty holiday at the end of March, according to Mark Harris, chief executive of mortgage broker SPF Private Clients.

Harris said: “It is not true that if you haven’t got an offer in by now you won’t get it done by March, people will be able to find a house in the new year and get it done before the deadline, as long as they have a good solicitor and a good mortgage broker.”

The tax break is encouraging people to purchase property, however, Harris believes that the saving is not as inspiring for the higher end of the market.

He said: “The stamp duty holiday is spurring people to crack on and move, but it may not necessarily make people go out and buy a £3m house for the saving alone.

Furthermore, as a result of the national lockdowns, people have begun moving further away from city centres.

Harris said: “The southwest performed best out of all the regions, clearly illustrating the impact of lockdown.

“More people are considering moving further out, perhaps because they don’t have to be in the capital every day for work, or are looking at holiday homes to take advantage of the staycation boom.”


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