With 30 June stamp duty land tax (SDLT) holiday deadline just around the corner, there have been increasing support, praise and kindness for the property sector and practitioners.
The Chancellor Rishi Sunak extended the SDLT holiday in the March budget. Once the 30 June deadline passes, which is for properties up to the value of £500,000, a new tapered rate will come into force and run from July to the end of September for properties valued up to £250,000.
In Wales meanwhile, the Land Transaction Tax (LTT) concession will come to a hard end on 30 June with no tapering arrangements after this date.
Conveyancers are enduring ever-increasing pressure from home movers resorting to extreme measures to beat the stamp duty deadline.
In a nod to Today’s Conveyancer’s “Call for Kindness” and “Pledge, Sarah Major, Head of residential conveyancing at Harold Stock and Co Solicitors written on LinkedIn:
……”I’m sure I am not alone in requiring far more hours than I have each day to get everything done and answer the ever growing emails and calls whilst equally wishing the 30th June was over and done with. In all my time served in property I have never known a time like it and I know I’m not alone. The achievements of everyone working in the residential property sector are immense and I feel a solidarity with my colleagues and other professionals that wasn’t always recognised before. We’re nearly there and let’s remain kind when this is a distant memory!”
Joe Holmes, Relationship Manager at Bell Lamb & Joynson Solicitors took the time to appreciate all the kind client reviews and comments that had been received and reminded everyone in the property field to keep reading the positive testimonials right now. He wrote:
“Given how busy EVERYONE connected to the property world is right now I was chuffed to read such amazing comments about our onboarding and #conveyancing team…..Well done to everyone in the property space right now – Hold on to those amazing reviews, comments and gifts.”
Janine Heil, Partner at Leigh Duncan Solicitors remained positive in challenging times by thanking and being supportive of her fellow conveyancers, she wrote:
“What a day! Banking system down and nearly a failed completion! Can do without this in these already stressful times but it pays to instruct a local solicitor as we know the seller’s solicitor and the developer we were buying from and they have let the clients in under licence. I hate and love my job in equal measures but nobody knows the lengths we go to as conveyances, unless they do the job we do. Thanks to my team and the local solicitor on the other side we have saved the day for the clients- that’s all that matters. Conveyancing solicitors out there, stay strong as you are doing an awesome job!”
In a bid to support the residential property industry, the Law Society has published it’s own guidance for under-pressure conveyancing solicitors covering managing clients’ expectations and offering practical suggestions for dealing with transactions.
