On 3 March, the Government announced that the temporary Stamp Duty £500,000 nil rate band exemption in England and Northern Ireland will be extended until 30 June 2021. This will be followed by a further tapering of a £250,000 nil rate band through to 30 September 2021. Further to this, we want to let you know how this affects our New Build financial incentives policy for pipeline applications.
For all pipeline applications, including shared equity, we'll now accept restructuring of stamp duty incentives to different types of financial incentive, such as cashback, providing the valuation was carried out before 4 March 2021. This means your builder doesn't need to send us a new UK Finance Disclosure form.
This is a temporary update and our full policy on incentives is unchanged.
Remember, the total amount of financial incentives must not exceed the maximum acceptable limit.
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