Since the start of the year, lenders have been urging us to encourage our clients wanting to take advantage of the Stamp Duty Holiday, to start their applications as soon as possible.
They are expecting a very busy few months in the run up to the deadline on the 31st March 2021 and that everyone involved in the process, from lenders to valuers and solicitors, will be stretched to capacity caused by the increase in demand.
As a brokerage, we are already feeling the pressure of this and are experiencing longer turnaround times from our lender panel and from third parties. This is in addition to the pressures already felt from their team’s home working.
There has been much talk in the market over recent days about an extension to the deadline, but we have not heard anything to confirm this and buyers should aim for purchases to be completed by the current known date until we hear otherwise.
Please get in touch as soon as possible to start the purchase process, by contacting our property team on firstname.lastname@example.org, visiting our Property Finance Clinic at https://sterlingcommercialfinance.co.uk/property-finance-clinic/ or calling the office on 0115 9849800.