You can watch the Parliamentary debate on a possible Stamp Duty Holiday extension here, using the streaming link at the bottom of this page.
The debate runs from 4.30pm to 6pm, and has been triggered by an online petition calling for a six month extension; that petition now has approaching 140,000 signatures, with much of the agency industry backing an extension of some kind.
In this afternoon’s debate Elliot Colburn MP, a Conservative member of the Petitions Committee, will lead the session.And Jesse Norman MP, Financial Secretary to the Treasury, will respond for the government.
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I would imagine that the MP that bought a house in Richmond budgeted her stamp duty into the costs of the purchase so why aren't ALL other buyers doing that, or advised to do that by agents and lenders/brokers, just in case they cant complete before the end of the SDLT holiday?
We're not learning much here from Jesse Norman - he's just telling us what we already know and offering very little actual insight.
The further lockdown was not anticipated when the stamp duty holiday was implemented. This occurrence has dramatically interfered with the activity of the property market & is a major cause of uncertainty & delays. This should be taken into allowance in compensating for the unprecedented situation
In truth Lockdown or no lockdown the issue is that solicitors cant cope with the volume, planning depts are not turning stuff around as they cant cope (some have been cyber attacked which causes its own issues) some even saying that they cant give an enquiry their attention for 21 days and if another enquiry comes up its another 21 day delay, removals firms would not be able to cope with the last minute rush as the back log gets even bigger and banks are struggling
So, even those who got in early, with plenty of time are now finding that through no genuine fault of their own that they will not be able to meet the deadline despite having been prudent and well organised themselves
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