/ General

Make your first step on the property ladder in 2018, with no Stamp Duty for first-time buyers!

In the Autumn budget of 2017, the government announced some great news for first-time buyers to make purchasing a first home even more affordable.

The decision was taken to remove Stamp Duty on properties up to the value of £300,000 for first-time buyers – meaning that owning that dream first home is much more of a realistic prospect for many who might not have been able to afford it.

Stamp Duty is the tax that is added to the cost of buying a property by the government when a purchase is made.

As part of the purchase process, a change in the ownership of the land has to be legally registered at the Land Registry – requiring a certificate from HMRC. This certification can only be issued once Stamp Duty is paid for the property. In normal circumstances, if Stamp Duty isn’t paid, then a purchase cannot be completed.

The government took the step to remove Stamp Duty for first-time buyers to make owning a new home more affordable, however for existing homeowners, Stamp Duty is still payable on properties valued higher than £125,000.

And with the government-funded Help to Buy equity loan scheme still available, first-time buyers can move into a new home with just a 5% deposit.

So if you’re a first-time buyer, there’s never been a better time to get onto the property ladder. For more information about all of our developments, visit www.peverilhomes.co.uk or call 01773 880550.

Related stories

Quality of service makes for a happy ending for Mr...

The process of finding the perfect new home, completing the purchase process and making the move, can be…
Read more

Reserve one of our seven star properties and recei...

The arrival of August means that we have hand-picked seven more beautiful properties that will suit a range…
Read more

Customer care sits at the heart of everything we do

As well as our continued commitment to building beautiful homes, a primary focus for everyone at Peveril Homes…
Read more