Stamp Duty Land Tax Holiday to End Soon but Sterling Portfolio Have the Answer to Avoid Stamp Duty
LONDON, Feb. 25, 2021 /PRNewswire/ -- In March 2020, Chancellor Rishi Sunak gave people wanting to buy property in the UK a stamp duty holiday that eased financial burdens on hundreds and thousands of people to keep the property market fluid during the height of the COVID-19 pandemic. This is now coming to an end with a possible short extension till the end of June 2021.
The stamp duty holiday saw property sales boom, with reported house sales at their highest since before the 2008 recession. HM Revenue & Customs reported that 129,400 sales were made in December 2020 alone compared to the 87,040 sales that were reported in December 2014.
Now that this boom will taper off due to the end of the stamp duty holiday, this leaves very little time for anyone still debating and collating funds to enter the property market as a first-time buyer or even for someone looking to expand their current portfolio. For an overseas investor, the stamp duty for a £250,000 house will be 6%. This could be a concern for new buyers and people building a portfolio by potentially making the purchase of a house too expensive and putting the property market out of reach for many buyers and investors.
If investing money into property was of interest but the concerned party were worried about the increasing cost of buying property without any help, then Sterling has a safe and secure way of helping interested parties invest in the property market and avoid stamp duty altogether with no hands-on involvement or experience necessary. Sterling has new fixed property fund, that will alleviate the pressure of extra fees and take the stress out of owning property. It brings about all the cash benefits of being a landlord, without actually dealing with any of the hassle.
When buying property, there are many hurdles to cross including numerous meetings with banks, arranging mortgages, finding suitable tenants and the constant stress of property management. Sterling will manage all of this for their clients when they partake in their new property fund that gives investors the opportunity to invest a small amount of capital into a property to become a landlord with none of the responsibility.
Sterling take care of everything from arranging paperwork, managing the property on a daily basis, liaising with tenants and paying all fees including stamp duty. During the 5-year term property fund the investor will receive an 8% fixed annual return with the option to have the initial investment returned in full at the end of the term or the option to re-invest. Regardless of the type of property and budget a potential investor is interested in, Sterling offer residential and commercial property investments, with a large and varied amount of assets to suit each individual's needs.
Sterling have always had one aim in mind and that is to help clients develop, maintain and grow their wealth through personal financial planning that makes sense to each individual client. With offices all over the world, Sterling is strategically situated to help you globally. They assist clients on property investment, property management and help find the best use of their client's financial assets by matching their individual goals with the service provider and strategy that is best-suited to help them.
For more information, please don't hesitate to call or email Sterling at –
+971 52 623 4594
info@sterlingwealthassociates.com
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