Budget 2021: Key announcements for homeowners and buyers

The Chancellor Rishi Sunak has delivered the 2021 budget. Key announcements include extending the furlough scheme – and extending the stamp duty holiday.

Here’s a round-up of the latest announcements that may affect homeowners and buyers:

Stamp duty holiday (England and Northern Ireland): This will be extended to the end of June. After that, the nil rate band will be reduced to £250,000 (from £500,000) before returning to the usual £125,000 after.

Help to buy scheme: A new scheme to help first time buyers and previous homeowners with a 5% deposit will be launched. It is expected to open in April to help buy properties up to £600,000, with the government backing part of your 95% mortgage.

Furlough scheme and Self Employment Income Support: The furlough scheme has been extended until the end of September, while the self-employment Income Support Scheme (SEISS) has been extended to a further 600,000 people who were previously excluded.

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Contact Linear Financial Solutions with any concerns or queries regarding the latest budget from The Chancellor.

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