If there is a Stamp Duty holiday extension, when would that likely to be announced?

[CatAndHisKit]

Would they literally announce last minute in the end of March?
Just really would help if they gave people good notice either way.

Saying it's definitely not going to happen at least a month in advance would be the right thing too.

March 3rd, it would be in the budget.

Ah that's great, thank you Autism. I can plan accordingly re my buyers now (wait till then wiht my decision).

I don’t think it’s really on the cards - is it? I mean it would be great for us as we won’t make the deadline but I’ve heard nothing in the press and no talk of it.

It’s all over the press, just not the newspapers. He’s considering a six week extension, only considering it, but it makes sense otherwise chains will collapse.

It is in the press every day! The most likely (other than not doing anything) that the press talk about is extending it by six weeks. That will save many of those who have been delayed, but not encourage new buyers as unless cash with no searches etc it will be very hard to get a new purchase complete.

Most of the speculation around this does suggest that the extension will only apply to existing sales. Where the memorandum of sale has been issued and solicitors engaged. But as I say that is pure speculation at this stage.

Existing sales would be great. I know it would be for 6 wks, Midlife - I was asking when we will hear either way, and the first poster did say March 3d.

I would not bank on it. Rishi needs to raise some money.

He does, but he also needs not to lose money, and sales falling through is a worry.

@Needmoresleep

I would not bank on it. Rishi needs to raise some money.

It might still be in his best interests though. Stamp duty is still being paid on houses costing 500k+, so if the chains containing those houses succeed, he at least gets something. If it all falls apart because someone in the chain can no longer afford it, he gets nothing.

We shall see. He may, he may not. The safest option is to complete before 31 March.

That entirely depends on your circumstances. I am due to complete on a property, but I’m waiting to see what the budget says, because I have to pay an early repayment penalty if I end my current mortgage before March 31st. As small extension would be perfect.

I don’t think anyone here can advise anyone else what it’s ‘best to do.’ I have to assume that adults buying houses can probably work out what’s best for them personally.

I don’t think anyone is advising what is best to do. I think the advice is that there may be an extension, or there may not, so better ,to keep options open rather than count on anything.