row of colourful houses in wales

Record month for O’Neill Patient as property market rebounds

Conveyancing firm O’Neill Patient LLP (ONP) has recorded a significant increase in enquiries, instructions and completions in June year-on-year. The figures provide evidence of a market rebounding strongly from the damage caused by Covid-19. Adam Forshaw, managing director of ONP, said: “Against the backdrop of the coronavirus outbreak, this strong performance is evidence of the resilience and versatility of our staff who continue to provide high levels of customer service from home. “It is also testament to the resilience of ONP’s technology-driven approach in the face of the difficulties posed for the property market by Covid-19. “Demand is coming back to the market strongly after the hiatus caused by Covid-19. ONP’s technology-led model gives clients and customers a high-quality experience...

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rishi sunak set to raise stamp duty threshold to £500,000

Government mulls stamp duty holiday to boost housing market

The Government could cut stamp duty for six months on homes up to £500,000 to help boost Britain’s struggling housing market. Homebuyers currently pay stamp duty on properties worth more than £125,000, with a 3% rate on properties worth up to £250,000 and 5% on properties up to £675,000. The Times reports that Chancellor Rishi Sunak could raise the threshold to encourage more housing transactions. The new threshold is expected to be set between £300,000 and £500,000 and would remain in place for six months. First-time buyers are already entitled to relief for the first £300,000 of stamp duty on properties up to a value of £500,000. This means a majority of homebuyers will not have to pay any stamp duty...

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