Making the most of the Stamp Duty Holiday

18th February 2021

Making the most of the Stamp Duty Holiday

We know that a lot of people are eager to complete on their purchases to benefit from the stamp duty holiday (which ends of 31st March 2021) so we thought we would share some top tips to help you make the most of it.

1 – Sort out your paperwork

Your broker will need a lot of documentation from you, so make sure that you know where everything is!

Also be sure to return it all as soon as you can, and all at the same time, so that it can be assessed and processed as quickly as possible.

2- Choosing solicitors

Speak to your friends, family and broker to get recommendations on solicitors, and get multiple quotes to compare costs. It is also very important if you are using Forces Help to Buy to make sure that your solicitor is proficient with it and has experience using the scheme.

Once you choose your solicitors, ask them if there are any potential delays they can foresee, such as local authority searches being delayed

3 – Stay in touch

It’s important to stay in touch with everyone involved in this process to make sure that you’re all on the same track, for example: if you’re part of a chain, speak to your estate agents and solicitors to ensure that everyone has the same completion goal.

4- Get quotes early

Even though it seems like it would be weeks or months away, you should start thinking about third parties (e.g. removal firms) early on, to make sure that you have quotes from everyone you need and to avoid an unexpected cost or stress when your completion date is upcoming.

Also make sure that all parties are aware of timelines and are in regular contact with one another.

5 – Sooner rather than later

Although it’s hard to estimate a completion date at the start of the process, it would be best to get in sooner rather than later, as in order to benefit from the stamp duty incentive, you will need to complete by 31st March so wherever possible try to avoid the end of March as this will be a very busy time in the market.

Get some advice about Stamp Duty Holidays

If you would like some advice about stamp duty holidays or anything mortgages, message us on Facebook, WhatsApp or call us on 0330 3322 614

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