Treasury officials poised to advise stamp duty holiday extension

Treasury officials are reportedly advising the Chancellor to extend the stamp duty holiday to avoid the collapse of thousands of housing transactions. Experts warned civil servants earlier this month that there is not enough man power to get transactions through before the 31 March stamp duty deadline passes. It would mean lenders were within their rights to withdraw mortgage offers, causing potentially tens of thousands of transactions to collapse. According to the Mail, Treasury officials are now of the view that extending the property tax reprieve has become “critical”.

Daily Mail (30/11/2020)