Stamp duty holiday extension and 95% mortgages

You have probably seen the news but we wanted to let you know the property announcements detailed in the budget last week.

Stamp Duty Holiday has been extended for 3 months!

The stamp duty holiday was originally due to end on the 31st March but has now been extended for three months until the 30th June.

There will then be a transition period of three months taking us back to normal stamp duty rates where the stamp duty threshold will temporarily sit at £250,000 from July until the end of September.

From the 1st October, the stamp duty threshold will return to the normal level of £125,000.

This is great news if you are considering moving home. It is also great for buy to let landlords looking to buy their first rental property or extend their portfolio.

A new mortgage guarantee scheme to help buyers get 95% mortgages
The government has introduced this new scheme to help buyers with small deposits of only 5% purchase properties up to the value of £600,000.

This new scheme will launch in April.

The way the scheme works is that the government has pledged to cover any losses the lenders’ incur if for any reason a buyer defaults on their mortgage payments for any reason, in return for this guarantee, lenders will provide mortgages up to 95% of the value of the property price so that you as a buyer can proceed with a deposit of just 5% of the property price.

Want to hear the great news?! This new scheme is available to all individuals purchasing a new residential property so whether you are a first time buyer or looking to move home this is available to you. This isn’t available to investors unfortunately.

If you would like to understand more about either of these schemes or are looking to move house or purchase a new property please get in touch as we would love to help you as always. 


Share this article

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin

About Key Solutions

Here at Key Solutions we believe taking out a mortgage should be easy. Why shouldn’t it? So when people say buying a home or getting a mortgage is one of the most stressful things ever, we say, come and speak to us.

Subscribe to our Newsletter

Don’t miss out on our award-winning mortgage and insurance advice!

If you would like to quickly understand how much you could borrow for your home moving mortgage, complete our property calculator:

Related articles

As a business, we always want to give back and help people and causes all over the World. Whether we help you with a remortgage, a moving home mortgage, a buy-to-let mortgage,...
If you are interested in understanding how to pay off your mortgage quickly then we are here to help! There are many ways to do this – have a look below to...
One of the most common questions we get asked at the moment is about getting a mortgage if you have been furloughed. You may feel impacted or concerned but we are here...
You have probably seen the news but we wanted to let you know the property announcements detailed in the budget last week. Stamp Duty Holiday has been extended for 3 months! The...
Our prime consideration is the health and welfare of our gang and further to the Government directive we have now transferred all working members of Key Solutions to their home bases. We...
Statistics show that on average, people living in the UK will pay off their mortgage by the time they are 69, but do you know when your last payment will be? At...
The Help to Buy Scheme recently celebrated its 5th birthday this year!