Agents should expect a spike in calls after the election is called, as stamp duty thresholds are called into question. Labour has confirmed that the stamp duty threshold for first-time buyers will fall back to £300,000 in April 2025. As it stands the minimum threshold is £425,000, as it was temporarily raised by Rishi Sunak when he was Chancellor. Moneypenny, which provides telephone answering and live chat services to more than 2,500 property businesses across the UK, found there was a 34% increase in inbound calls for property firms after the 2015 election. Samantha Jones, its director, said: “Politics have a major impact on the property market all year round, but during election season, this is further compounded, and people reach out to experts for answers and support.” After elections it’s common for buyers and sellers to seek professional advice on the new government’s impact on property transactions and whether they’re likely to face increased fees, delays, or, worse yet, broken chains and retracted offers. Jimmy Baillie #Ukpropertynews #ukproperty #realestate #financialgoals #buytolet #financialintrdusty #ukbrokers #buytosell #investors #taxes #bankloans #mortgageproperty #mortgage #businessdevelopment
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/Uz1J50SIb51 #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/Wumc50SIaYP #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/7s9I50SIbaZ #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/nu8V50SIanm #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/CY0550SIaIZ #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/utX850SIb2o #propertyindustry #propertynews #estateagent
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What does the election mean for the sales market? 🏛️ The Labour Party secured a majority victory in the 2024 general election, making Keir Starmer the new Prime Minister. Throughout his campaign, he has been vocal about his view of property and housing in general. He vowed to support 80,000 young people getting on the housing ladder over the next five years and building 1.5 million new homes. 🏘️ He also stated that "having a place to call your own is the bedrock of security and aspiration". With this in mind and the appointment of Angela Rayner as secretary of state for levelling up housing and communities, what are Labour's plans for the property market? 💸 Freedom to Buy scheme 👫 First-time buyer's Stamp Duty exemption set to be reduced back to £300,000 from April 2025 🏠 'First dibs' for local people on new developments 🌏 Tax foreign buyers to fund planning officers 🌳 Reform compulsory purchase rules, allowing councils to purchase land at lower prices 🏢 Reforming leaseholds by banning new leasehold flats and ensuring commonhold is the default tenure If you'd like to learn more, visit our website to read our blog. https://ow.ly/z1Ur50SIbit #propertyindustry #propertynews #estateagent
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Providing professional mortgage broking, life, protections and insurance services CeMAP | Mortgages | Life Cover | Critical Illness Cover | Income Protection | Family Income Benefit | Home Insurance
This year has seen an early general election and the votes have been counted. We have a new government in charge and labour are back on the opposite side after over 10 years away. With Labour now in power, they will be looking to start making some changes and with the budget looming towards the end of the year. What does this mean? If we look at this article below, Labour are proposing to have a capital gains tax upon death. This could potentially affect landlords with any buy-to-let properties. Landlords will now need to consider this as well as the potential increase in the tax that will need to be paid upon death and how will they mitigate this potential cost. Thoughts on this, Emma Aslett? If you would like a review on your mortgage and protections please come and speak to us at Penn Financial. Please remember this is not tax advice and we do not give tax advice. You must seek help from a tax specialist. https://buff.ly/3Wj4yUw
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📢 After weeks of campaigning, the UK general election results are in! Labour secures a decisive victory, signalling clearer direction ahead for the market. Property markets dislike uncertainty, so with the election settled, we anticipate potential stabilization and even a market boost in the coming months. Key to watch is the Bank of England’s interest rate, likely to decrease post-election. Reports hint at rates potentially dropping to 4% by 2025, which could translate to cheaper mortgages, making homeownership more accessible. Labour’s housing promises include building 1.5 million new homes and reforms aimed at enhancing rental market regulation and leasehold reforms. These initiatives could inject vigor into the property sector over time, although challenges in execution are expected. For first-time buyers, Labour plans a permanent Freedom to Buy mortgage guarantee scheme, akin to Help to Buy, supporting purchases with a 5% deposit. While no new Stamp Duty exemptions are promised, current ones remain until next year. Regarding taxes, the new government has ruled out income tax, National Insurance, and VAT increases but hasn’t addressed other taxes yet. In deciding whether to buy, sell, or move homes, prioritize your personal circumstances. Consult with a reliable estate agent for tailored advice on your property journey. #UKProperty #ElectionResults #MarketOutlook #Rotherham #Southyorkshire #Propertymarket
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Your Dedicated Rossington Estate Agents: Personalized Service, Expert Local Knowledge, and a Promise to Prioritize You - **FIND YOUR SPACE, LOVE YOUR PLACE**
📢 After weeks of campaigning, the UK general election results are in! Labour secures a decisive victory, signalling clearer direction ahead for the market. Property markets dislike uncertainty, so with the election settled, we anticipate potential stabilization and even a market boost in the coming months. Key to watch is the Bank of England’s interest rate, likely to decrease post-election. Reports hint at rates potentially dropping to 4% by 2025, which could translate to cheaper mortgages, making homeownership more accessible. Labour’s housing promises include building 1.5 million new homes and reforms aimed at enhancing rental market regulation and leasehold reforms. These initiatives could inject vigor into the property sector over time, although challenges in execution are expected. For first-time buyers, Labour plans a permanent Freedom to Buy mortgage guarantee scheme, akin to Help to Buy, supporting purchases with a 5% deposit. While no new Stamp Duty exemptions are promised, current ones remain until next year. Regarding taxes, the new government has ruled out income tax, National Insurance, and VAT increases but hasn’t addressed other taxes yet. In deciding whether to buy, sell, or move homes, prioritize your personal circumstances. Consult with a reliable estate agent for tailored advice on your property journey. #UKProperty #ElectionResults #MarketOutlook #Rossington #Southyorkshire #Propertymarket
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