Housing: Coronavirus

(asked on 7th July 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will allocate funding for financial support for people who are moving homes whose household income has been adversely affected by the covid-19 outbreak.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 14th July 2020

The Government has introduced a temporary increase to the Nil Rate Band of Residential SDLT from £125k to £500k. This will apply from 8 July 2020 until 31 March 2021 and will mean that nearly 9 out of 10 people getting onto or moving up the property ladder will pay no SDLT at all, saving on average £4,500. The Government has also raised the Local Housing Allowance rate to the 30th percentile, providing additional financial support for private renters. These measures, alongside other interventions in the Plan for Jobs announced by the Chancellor on 8 July, mean that people can be more confident to move.

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