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The UK government has introduced a higher Stamp Duty Land Tax (SDLT) rate on second homes to regulate the housing market and generate additional revenue. If you’re considering purchasing an additional property, it’s essential to understand how this surcharge works. Here’s a detailed Q&A to help you navigate the 5% SDLT on second homes. What…
House prices in January fell by 0.3% to £229,748 compared to December, according to the latest Halifax HPI. This is the biggest drop since April 2020, said Halifax House Price Index. The average UK house price was £251,968 in January. The annual growth rate also eased for the first time since June, to 6.4% from…
The Uk house sales are continuously picking up since the summer due to pent-up demand following the UK-wide lockdown and the introduction of stamp duty holiday on properties up to £500,000. Chancellor Rishi Sunak announced the stamp duty holiday in July 2020. Therefore, more than 100,000 additional UK house sales may take place during the…
Halifax has recently revealed the latest data about the growth in UK house prices. The data shows that UK house prices increased at the fastest pace since June 2016. During October, average house prices across the UK exceeded £250k for the first time in history. The lender exposed that house prices in October were 0.3%…
Owning a home is a keystone of wealth… both financial affluence and emotional security.
