Movera comment on the General Election results

05 July 2024

Please find below, comment on the General Election results from Nick Hale, at Movera the major home moving group.

Nick Hale, Chief Executive Officer at Movera, a group of home moving businesses including ONP Solicitors, commented: “There is no doubt this has been an historic election, and a landslide victory for Labour.

“Big challenges such as affordability lie ahead for the new Government. In its manifesto, Labour prioritised maintaining current stamp duty exemptions for first-time buyers. However, these are set to expire next April which could create uncertainties. If the Government does not extend the higher threshold, first-time buyers could face significant tax increases. Whatever it decides, though, the new Government must ensure it consults with the industry first. The sector needs to time to prepare for change rather than having last-minute announcements sprung upon us.

“As the new Government beds in, our focus at Movera will continue to be on supporting those looking to move or remortgage to make the homebuying experience as easy as possible.”