Stamp duty holiday: the ramifications for contractors once it ends

Stamp duty holiday: the ramifications for contractors once it ends

The housing market has fared unexpectedly well since the first coronavirus lockdown ended.

But today, contractors and other individuals looking to buy property face three factors that threaten an extended run of confident home-purchasing, writes John Yerou, chief executive of Freelancer Financials.

 

These threats are -- the stamp duty holiday ending on March 31st 2021; punitive measures from lenders and thirdly, housing/banking capacity. Each carries a different weight of restriction on the contractor community. So just as the unwelcome news of fewer properties coming onto the market breaks, let’s assess this triple threat and outline what contractors might do to mitigate it.

Stamp duty holiday scheduled to end soon

For four months in a row over last summer, house prices dropped. As a result, government income dropped. With the future then so uncertain, the government needed to reverse that trend.

 

Continue reading

 

PLEASE REGISTER WITH US FOR PERSONALISED JOB ALERT

Comments

Currently there are no comments. Be the first to post one!

Post Comment

*
*
*

Other media articles

5 Tips for Job Seekers in Investment Management and Wealth Management

5  Apr  2023 

Are you looking for your next big career move in Investment Management and Wealth Management? Don't worry, we've got your back. Here are five tips to help you land your dream job (without losing your ...

IT contractor market preview 2023: skills, rates, rivals and kissing frogs

30  Dec  2022 

Which IT contractors will be very in-demand in 2023? Cloud Data Engineers, Visualisation Developers, Data Analysts, and all things Azure. For these four, I’m already seeing rate inflation, says financ...

Demand for IT contractors verged on falling flat in November 2022

12  Dec  2022 

Demand for IT contractors came a hair’s breadth away from falling flat in November 2022 -- at just 50.3, its lowest index score for two years. The REC, which keeps the index, had to reissue the sort o...

Cookies on this website
We like to ensure that we give you the best experience on our website. If you wish you can restrict or block cookies by changing your browser setting. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website.