If you’re looking to move into a brand new Linden home, we’ve got some great news for you. The Government have announced a Stamp Duty holiday on all homes up to £500,000 until 31st March 2021, which means you could save up to £15,000. View the table below to see what this could mean for you. Remember, if the value of the property you are interested in is over £500,000, then you only pay stamp duty on the portion over £500,000.
|House price||Stamp duty rate|
|Up to £500,000||Zero|
|£500,001 to £925,000||5%|
|£925,001 to £1.5 million||10%|
|The portion above £1.5 million||12%|
Previously, as a first time buyer, stamp duty was applicable over £300,000 and if you were a next time buyer it was applicable over £125,000. This new announcement now applies to BOTH first and next time buyers.
So don’t hesitate, contact us today and make your new home a reality.
See https://www.gov.uk/guidance/stamp-duty-land-tax-temporary-reduced-rates for full details.
When does the Stamp Duty holiday begin?
The Stamp Duty holiday starts with immediate effect and will end March 31st 2021.
Is the Stamp Duty holiday only for first time buyers?
No, it’s for both first time buyers and next time buyers; so whether it’s your first home or your next this announcement could mean greater possibilities for your new home purchase.
What if my house purchase is over £500,000?
You won’t pay any stamp duty on the first £500,000. You only pay Stamp Duty on the amount that you pay for the property above £500,000.
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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 representatives for details of the exact specifications available at the development(s) for each type of home and the associated prices.