Home » News » Housing Market » Matt Hancock: ‘I understand concerns over stamp duty holiday backlog’
Housing Market

Matt Hancock: ‘I understand concerns over stamp duty holiday backlog’

The Health Secretary has made the comments in response to a letter from an estate agent and constituent in Suffolk.

Nigel Lewis

matt handcock stamp duty

Health secretary Matt Hancock (above) has swung behind a campaign to persuade Rishi Sunak to extend the stamp duty holiday deadline.

Hancock, who has been MP for Conservative safe seat West Suffolk since 2010, was contacted by an estate agent asking for his support on an extension.

This followed a recent campaign by The Guild of Property Professionals to urge its members to lobby their local MP on the subject.

Hancock says in his response to the unnamed Guild member that although he recognised the positive effect the stamp duty holiday has had on the property market, he understands “concerns regarding the backlog of transactions and the impact this could have on people whose purchases may complete after 31 March and I will alert my ministerial colleagues to the strength of feeling on this matter,” he says.

Ian McKenzie imageGuild CEO Iain McKenzie (pictured) says members have received replies from many other MPs in support of an extension or modification to the holiday.

“An extension would be optimal, however, if the Government decides against an extension, at the very least a phasing out period would help lessen the blow to people currently in the process of buying a home,” he says.

“We are encouraged by the fact the our members are receiving replies to their letters regarding the benefit of extending the stamp duty holiday, however, we are also aware that at this stage the Government has not agreed to extend the tax break and have not laid out any plans with to regard to a phased out approach.

“For the time being, the deadline remains, and many transactions will not make the cut off.”

Read more about the stamp duty debate.

December 8, 2020

What's your opinion?

Please note: This is a site for professional discussion. Comments will carry your full name and company.

This site uses Akismet to reduce spam. Learn how your comment data is processed.