Quarter of UK investors to take advantage of stamp duty holiday

A quarter of investors in the UK are planning to take advantage of the stamp duty holiday, according to new research from FJP Investment.
 
The investment firm commissioned an independent survey of 900 UK-based investors, all of whom have investments and savings in excess of £10,000, excluding the value of their residential property and workplace pensions.
 
The research found that 24% are planning on buying at least one property to take advantage of the stamp duty holiday, which is in place until 31 March 2021. This figure increased to 43% for those aged between 18 and 34.
 
When it comes to real estate, FJP Investment suggested that investors feel more support is needed for homebuyers and property investors beyond the current measures in place. The study showed that 42% say the Government needs to offer additional support to homebuyers and property investors beyond the stamp duty holiday, while 54% of investors said they are in favour of extending the mortgage payment holiday relief scheme beyond 31 October.
 
The survey also revealed that 54% of investors have lost confidence in Boris Johnson’s Government, based on its handling of the COVID-19 pandemic so far. For investors in London, this figure jumped to 62%.
 
“Today’s research shows that investors are clearly worried about the long-term financial consequences of the pandemic,” said FJP Investment CEO, Jamie Johnson. “They believe greater support is needed, which is why they want to see the Government build on the policies it has already introduced.
 
“This is particularly true when it comes to the property sector. As shown from the findings, investors are in favour of policies that allow them better access to new real estate investment opportunities, be it extending the stamp duty holiday, or introducing additional financial relief.
 
“The pressure is very much on the Prime Minister and Chancellor, Rishi Sunak, to allay these concerns. Boosting investors’ confidence will be vital in order to inject life back into different financial markets and bolster GDP.”

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