For an affordable investment, Linden Homes has a selection of properties for under £100,000 across its South West developments.
At PQ2 in Millbay, Plymouth, the company has four contemporary one bedroom mezzanine apartments available. Located near the sea and close to the city centre, the homes are fantastic city pads and feature a funky open plan living room/dining area and kitchen. There is also a stylish bathroom, and a gorgeous bedroom on the mezzanine level.
At Home @ Heartlands in Redruth there are a few well-designed one bedroom apartments still available, completing the last phase of the award winning development. The apartments are energy efficient, built to level four of the Code for Sustainable Homes and comprise a modern open plan living/dining room and kitchen, with a beautiful bedroom and bathroom.
Brian Deacon, sales and marketing director, of Linden Homes, said: “If you’re considering investing in a second home or buy-to-let property then Linden Homes’ properties under £100,000 are ready for occupation, enabling you to beat the Stamp Duty increase.”
Announced in the Autumn Statement 2015, new buy-to-let Stamp Duty rates will apply from April 2016 meaning property investors in England and Wales will now have to pay an additional three per cent surcharge on each Stamp Duty band.
Adam Champion, business development director at New Homes Mortgage Helpline, said: “If you’ve got a lump sum pension or money sitting in a savings account then it’s definitely the time to be investing in a buy-to let-property, before the Stamp Duty increase.”
For example, on properties worth up to £125,000, where Stamp Duty does not currently apply, buy-to-let landlords will pay a total of three per cent.
For a buy-to-let purchase of £99,950, that means an additional £2,999 will be payable in Stamp Duty from April 2016.
Robert Flood from Bristol bought a buy-to-let property at Linden Homes’ Emerge development in Devonport. Speaking about the new Stamp Duty rates, Robert commented: “I’m relieved that I bought when I did and would recommend anyone considering investing in property to move now to make the most of their money. If I bought the two bedroom home in April 2016, I would have to spend an additional £3,999.50 in Stamp Duty tax! I’m delighted with our new home as it means we have a nice nest egg for when we retire, so it’s been a very sensible investment.”
Brian added: “We are offering a guaranteed five per cent rental yield at PQ2 and Home @ Heartlands, and will pay any difference over 36 months. There is a limited amount of time for homebuyers to save on Stamp Duty so we’re encouraging people to visit our developments to discover how we can help them maximise their investment.”
For more details on Home @ Heartlands call 01209 281413 and for information on PQ2 call 01752 522768.
-ENDS-
Media can contact Emma Mackay on 01626 356666 or 07738312960 for more information, images and interviews with Linden Homes.
References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.
