THE stamp duty holiday is ending and if you’ve not had an offer accepted on a property then it is likely that you will have to pay the additional tax.
House sales are currently taking on average 126 days to complete, that’s more than four months, according to the latest statistics from Rightmove.
With just 54 days until the March 31 deadline, it is unlikely anyone who hasn’t had an offer accepted already will be able to avoid paying stamp duty tax.
Tim Bannister, director of property data at Rightmove said:
“There are still a huge number of sales agreed in 2020 that are stuck in the processing logjam and awaiting legal completion, with many hoping to beat the impending tax deadline.
"For those who fail to do so, there may be difficulties if they have factored the tax savings into their budget calculations.”
Don’t let the end of the stamp duty holiday deter you from moving house or getting on the property ladder - ensure you factor in the additional cost when finding your dream home.
Using a stamp duty tax calculator it is easy to find out how much extra you’ll have to pay, we’ve used one from London and Country Mortgages.
Here’s how much stamp duty you will have to pay on these homes under £500,000 in Bournemouth:
Roslin Hall, 6 Manor Road, BH1
£500,000
This stunning two-bedroom home on Manor Road in East Cliff is currently on the market for £500,000.
If you are not a first time buyer and this wouldn't be a second home or rental property then you would have to pay an additional £15,000 in stamp duty tax.
This eighth floor apartment boasts panoramic sea views and two substantial terraces, one of which overlooks the sea.
Both bedrooms are doubles, the master has an en-suite. There is also secure underground parking and visitor parking.
"Ellerton" at Magna Road, Canford, BH11
£330,000
This three-bedroom end of terrace home in Canford is currently for sale at £330,000 - you would have to pay £6,500 stamp duty tax.
The outstanding family home has been newly built and is therefore presented in an immaculate condition.
Two of the bedrooms are doubles, one boasts an en-suite while the third bedroom is a single - ideal for a study or a younger child.
French doors lead to a lovely garden and there is also parking available with the property.
If you're interested in this property visit Zoopla.
Shapland Avenue, BH11
£290,000
The price for this two-bedroom detached bungalow is £290,000 which means the buyer would pay an additional £4,500 in stamp duty.
The property has a living room, kitchen, two double bedrooms and a bathroom and w/c.
Outside there is driveway parking, a garage and both a front and rear garden.
Library Road, Ferndown BH22
£175,000
Close to King George's Rec the buyers of this two-bedroom flat on the market for £175,000 would need to pay an extra £1000 in stamp duty tax.
The property itself has two good-sized bedrooms, kitchen and separate lounge plus a family bathroom.
Outside there is a private balcony, communal garden and parking.
The property is available by auction. For more information visit Zoopla.
35 Poole Road, Westbourne, BH4
£110,000
If you buy a property for less than £125,000 then you do not need to pay any stamp duty tax, so the holiday ending will not affect you.
Built in the 1980s this one-bedroom top floor apartment is available to over 55s in the centre of Westbourne.
Offered with no onward chain, a 24-hour care line facility and a residents lounge and laundry this is a great retirement property.
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