You are here: Home - Mortgages - First Time Buyer - News -

Thousands sign petition calling for stamp duty holiday extension

Written by:
Nearly 15,000 people have signed a petition calling to extend the stamp duty holiday for a further six months to help homebuyers in the process.

The petition on the official parliament portal has attracted 14,800 signatures since being posted in October.

It is calling for a six-month extension to the stamp duty holiday which is set to end on 31 March 2021.

The petition states: “Extending the stamp duty holiday for an additional six-months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise. This will help to stabilise the housing market.”

It comes as the petition’s creator revealed they are looking to move into a new build scheduled to complete at the start of March 2021.

“If this build is delayed past 31 March 2021 then I will not be able to afford the stamp duty so will not be able to afford the house,” he wrote.

As the petition has attracted over 10,000 signatures, it will trigger a government response.

Under the stamp duty holiday changes announced in July, homebuyers in England and Northern Ireland do not pay any tax on homes up to £500,000 until 31 March 2021. This applies whether you are buying your first home or have owned property before.

The average stamp duty saving is estimated at £4,500, with an expected nine out of ten buyers this year now paying no stamp duty at all on purchases. It was set to cost the exchequer £3.8bn, documents revealed.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week