How Homeowners Can Benefit from Stamp Duty Cuts

Today, in a bid to stimulate economic growth, the government has announced a cut to stamp duty, but what does this really mean for the housing market?

Experts are predicting that the change won’t do anything to help people get on the property ladder; in fact, recent history tells us that it’ll cause housing prices to rise, as they did in the last stamp duty holiday during the pandemic.

Whilst this may not have the intended effect for new buyers, homeowners may very well see the benefit.

For those looking to access capital to tackle the cost of living, there are new avenues to potentially take advantage of.

An increase in house prices provides an opportunity to release a larger sum of money against it, either through a second charge mortgage or equity release.

Timing is critical. The Bank of England base rates rose again today and are predicted to rise to 3% by the end of the year.

If you’re looking to borrow, it’s important to take advantage of today’s lower rates, before they get even higher.

Should you be interested in learning if specialist finance is a good fit for you, speak to one of our team on 02920 766 565 or by submitting an enquiry here.