Lockdown 2 has arrived and stamp duty issues 7.11.2020

Lockdown 2 has arrived and stamp duty issues 7.11.2020


Access Law are still working for clients throughout lockdown and are as busy as ever. 

However, Access Law, in light of the advice from the Government and our Regulators during this current lockdown period from 5th November 2020 to 2nd December 2020 inclusive, are taking steps to ensure the safety and health of their clients and personnel.

They will still be representing our clients in Court cases but will no longer be able to attend any home visits and are not able to have office based appointments unless by prior appointment in the unusual circumstance the case is not able to be dealt with by phone or email.

The other issue is the stamp duty deadline on 31.3.2021.  This is 144 days away and apparently the current average time for a house sale is 160 days, let alone taking into account Christmas.

At present, any purchases up and to 31st March 2021 under £500,000 are exempt from any stamp duty unless the purchase is a second home or buy to let or Company purchase when the 3% stamp duty charge still applies but basic stamp duty is not payable.

However, due to COVID19 many searches, valuations, and mortgage offers are taking much longer than usual to process than normal.  Access Law therefore will not be able to guarantee that clients will be able to complete before the deadline as it relies on so many issues that are beyond their control, including receiving the draft contracts from the Seller’s Conveyancers and their prompt response to enquiries.

Access Law will as always do their best to act as quickly as possible and as stated in a recent review:  “Access Law ..have given the best service …I can’t recommend Access Law enough

 

 

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