Brits are increasingly interested in owning a second property

Having a second home is a very attractive idea for most Britons.

Owning a second property is a dream for many families, and many of them do their best to acquire a second home.

A survey by The Guild of Property Professionals found that people ages 35-44 are the most likely to consider buying a second home in the country. One-third of Britons currently own a second home or would consider buying one in the UK.

“The stamp duty holiday will allow more families to acquire a second property.”

Iain McKenzie, Executive Director of The Guild of Property Professionals, said: “Approximately 1 million people in the UK, which is equivalent to around 4% of all households, have made their dream come true and own a second property.”

“With the current demand for property increasing and the doorbell holiday running through March 31, 2021, we could see more and more people tempted to buy a country house in the country or an apartment overlooking the beach at even though they would still have to pay a 3% surcharge on a second home. ”

McKenzie attributed the government’s announcement of the stamp tax as a driving force.

He added: “For those looking to buy a primary residence in England or Northern Ireland, there is no stamp duty of up to £ 500,000, and those buying a second home have to pay a 3% surcharge.”

“This basically means that people who buy a second home are paying about half the stamp tax they would have paid before the SDLT vacation announcement, which definitely makes it a more attractive and financially viable option.”

The Coronavirus crisis did not affect families’ plans to acquire a second property.

Most of the families who had planned to buy a second home had saved their money, and despite the economic impact that the pandemic caused in the UK, the purchase plans for these second homes were not affected.

The stamp duty holiday will make things easier for families interested in acquiring a second property.

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