Fantastic news for first time buyers and home movers as the Chancellor confirmed in his budget that the stamp duty holiday would be extended for a further three months.

The property purchase tax has been suspended on the first £500,000 of all sales in England and Northern Ireland since July, meaning that the tax break will now be on until the end of June 2021.

The Chancellor also explained that first-time buyers would again be able to buy a home with only a 5% deposit as the government will underwrite 95% loans.

Jordan Buchanan, Chief Economist at PropertyPal said: “The Budget produced some strong signals of the government’s position towards the housing market. Both the stamp duty extension at the higher rate band to June and the tapered reduced rate to end of September will continue to catalyse market activity over the coming months. The mortgage guarantee scheme may play an important role for first time buyers given the void of lower deposit products since last summer.”

Darren Farnan, Marketing Manager at Braidwater Homes said: “This is much welcomed news by first time buyers and home movers alike. The stamp duty holiday extension and 95% mortgage news means that there are even better opportunities to get onto the property ladder now or move to your dream home. Here at Braidwater we have a number of beautiful homes across Northern Ireland that you can view on our homepage: www.braidwater.com and register here:

Current developments:

Beech Hill View (Derry/Londonderry)
Register here or contact Donnybrook Estate Agents on 02871 343600

Castlehill (Belfast)
Register here or contact Simon Brien Residential on 02890 668888

Gleann Elagh (Derry/Londonderry)
Register here or contact Oakland Estate Agents on 028 7126 7979

 

Coming soon developments: 

Roe Wood (Limavady)
Register here or contact Bensons Estate Agents on 028 7034 3677

Wattstown Manor (Coleraine)
Register here or contact Bensons Estate Agents on 028 7034 3677