The Government’s announcement that stamp duty in England won’t be paid on the first £500k of a property’s value until 31 March 2021 is welcome news for the housing industry.

From buyers struggling to get on the housing ladder for the first time to existing homeowners and buy to let landlords, prospective buyers right across the market who may have been putting off moving house due to the COVID-19 situation will now benefit when buying a new home.

Even with the applicable surcharge on buy to let properties, landlords all over the country will still reap the rewards. For example, Hamptons International has predicted that London-based investors will see their average stamp duty bill fall to £12,520 from £23,220 per property (meaning a saving of 46%), while landlords in the North East could see reductions from £1,390 to £130 on average (saving as much as 91%*).

How Kent Reliance for Intermediaries could help

Kent Reliance for Intermediaries understand that the current situation may have left your clients with more questions than answers. They may be concerned about how being in receipt of furlough payments will affect them, or if they qualify for a mortgage being self-employed. Or they may have a less than perfect credit score.

The specialist lender is experienced with ‘odd’ cases like these that don’t fit the criteria of most mainstream lenders. Why not see if their individual approach to case assessment can help your client?

Speak to your local business development manager today. Alternatively, take a look at their buy to let, residential and shared ownership product guides, which contain all the essential information about our latest rates and flexible criteria.

*Hamptons International July 2020