Homebuyers have the chance to save thousands of pounds in tax and enjoy winter in the warmth of a new build home.
We’re raising awareness of upcoming changes to Stamp Duty Land Tax, a levy paid to the Government when buying a property, more commonly known as stamp duty.
The threshold above which stamp duty is paid on homes in England is £250,000 for movers replacing their main residence and £425,000 for first time buyers. Those thresholds are due to change from April 1 when they’ll reduce to £125,000 and £300,000 respectively.
The stamp duty changes will impact all residential property purchasers across England, including our North West developments. We have developments across Cheshire including Deva Green, Chester; Queens Meadow, Shavington; The Fairways, Handforth; Victoria Mills, Holmes Chapel and Winnington Place, Winnington. In Lancashire, we’re building and selling homes at Parr Meadows in Eccleston; Priory Gardens in Burscough and Stonebridge Fold in Longridge. We also have homes available at Five Oaks, Shrewsbury, and Whittle Brook Park in Heywood.
Sales director Matthew Gould said: “The current stamp duty rates were introduced as a way to boost the housing market and while it’s certainly made a difference to buyers’ budgets, many people aren’t aware that thresholds are set to increase. For those who are waiting for mortgage interest rates to reduce or until they have saved a larger deposit, this could mean they need to factor in additional stamp duty fees.”
Based on the four-bedroom detached Lymm at Priory Gardens, Burscough, available from £351,995 someone moving to their next home would currently pay £5,099 in stamp duty. But if they don’t complete the purchase until after March 31, 2025, that would increase to £7,599.
This property is currently stamp duty exempt for first time buyers, but from April they’d need to pay £2,599 in tax.
“We’d encourage anyone thinking of moving in 2025 not to wait, but to start their home buying journey now. They’ll be able to beat the post-Christmas rush of people searching for a new home, move sooner rather than later and save on stamp duty by paying the current rate,” Matthew added.
“We’ll be able to put buyers in touch with independent financial advisers with access to the entire mortgage market, including ‘green mortgages’ which are only available on the most energy efficient homes. All of our homes can potentially be purchased with a green mortgage and because they’re so efficient, homeowners should find their energy bills are considerably lower too. Latest figures from the HBF suggest the saving could be more than £165 a month or £1,981 a year for those who move from an older house to a new one.”
Discover more about where we’re building via www.anwylhomes.co.uk
