Which? response to the chancellor’s stamp duty holiday announcement

Gareth Shaw, Head of Money at Which?, said:

“A stamp duty holiday could be a huge boost to those looking to move over the next few months – potentially saving them thousands of pounds, but it is just one of a number of factors that could influence an unpredictable housing market in the months to come.

“Sellers may react to the stamp duty changes by increasing the price of their property, while first-time buyers desperate to get on the property ladder will still struggle without the reintroduction of high loan-to-value mortgages, which have been disappearing in recent months.

“Anyone considering a move now should research the market carefully and consider the mortgage options available to them, so that they can make a fully informed decision about whether it is the right decision in the long term.”