As the property market lockdown looks like easing, overseas investors would do well to start to gear themselves up to take advantage of the stamp duty rate before they rise next year.
In the Budget on 11 March, it was announced that an extra 2% SDLT surcharge will apply for UK property purchase made by overseas buyers will apply from 6th April 2021. This means that buyers that are not U.K. residents could face both the 3% surcharge on buy-to-let and second home purchases, as well as this additional overseas surcharge of 2%.
If you are an overseas buyer thinking of investing in the UK property market, please get in touch with us to discuss.
At JPC we have a team of highly experienced property lawyers who are able to guide you through these options and help you choose what is best for you.
Whether you are looking to start a residential conveyancing transaction, or are thinking of switching lawyers, please contact Derek Payne, Partner and Head of Residential Conveyancing by email firstname.lastname@example.org or telephone: 020 7581 7525 or on LinkedIn.