End of stamp duty holiday could wreck 300,000 house moves

Some 325,000 homebuyers who agree to purchase a property before the end of the year are expected to miss out on the stamp duty holiday, costing the economy more than £4 billion.

A boom in house sales since lockdown and the introduction of a temporary cut in stamp duty have led to conveyancing, surveying, mortgage and search services being overwhelmed.

This means it takes an average of more than five months from agreeing a sale to completion, according to the property market analysts Twentyci, potentially meaning that sales agreed now will not go through before the tax break comes to an end on March 31.

By Carol Lewis, please read the full article on The Times.

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