It’s been an astonishing year for the property market. Despite the inevitable difficulties of the pandemic, the Stamp Duty holiday has spurred a significant level of activity. It’s not just meant that brokers and lenders have formidable workloads; it’s also pushed house prices up sharply.
The pandemic has forced all of us to spend far more time at home over the last year and a half, causing our homes to double as our workplaces and even as schools for our children.
London Credit has launched an Extend or Convert Refurb product for property investors who want to increase value by adding space or changing the use of a property.
Business development managers (BDM) are an integral part of the mortgage market, acting as the voice and face for lenders who appreciate the intermediary market.
It would be easy to think that demand from overseas buyers is likely to drop in the months ahead. April sees the introduction of a new Stamp Duty surcharge for those purchasing a UK property from abroad, with buyers having to put up an extra 2% compared to domestic buyers.
"Quick transactions don’t happen by accident. It’s only through the broker, borrower and lender working closely together that we see such rapid turnarounds."
Stamp duty has been a big topic of discussion for everyone in the property market of late, thanks to the ‘will they, won’t they’ over a possible extension to the stamp duty holiday which was due to end at the start of April.
The clock is ticking on the Government’s Stamp Duty holiday. Last summer Rishi Sunak, the Chancellor of the Exchequer, announced that no Stamp Duty would be charged on the first £500,000 of any purchase made before the end of March 2021.
