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The Budget 2021 – Key Points

The Chancellor, Rishi Sunak has finally announced the much-awaited 2021 budget. We’ve compiled key points that are likely to impact the property sector.

Here’s everything you need to know:

The furlough scheme will be extended until the end of September 2021, with the government paying 80% of salary, though employers will be asked to pay towards 10% from July and 20% from August.
Bounce-back and other coronavirus loans for businesses will be replaced by a new recovery loan scheme 80% guaranteed by the government
The stamp duty holiday on properties worth up to £500,000 will be extended from the end of March until the end of June and after that, there will still be no duty on homes worth up to £250,000 for another three months. Thereafter the threshold will return to the usual level of £125,000 from October.
The government will guarantee 95% mortgages to help those first time buyers who can only afford a 5% deposit

Sunny Budhdeo

With a career that spans over 20 years, Sunny initiated his journey in the mortgage industry as an adviser at the prestigious estate agency Barnard Marcus. He quickly gained recognition for his expertise, particularly in specialist finance, focusing on complex buy-to-let loans and bridging finance. As the Co-Founder of Unique Property Finance, Sunny has become a linchpin in the industry, adept at solving intricate property finance issues and fostering strong relationships with lenders.