The budget and scrapping of stamp duty

Last week’s budget heralded some good news for first time buyers. Chancellor Philip Hammond sought to rally Conservative MPs in his Budget by scrapping stamp duty for the first £300,000 spent by first-time buyers, offering a saving of up to £5,000. The cut will apply to buyers in England, Wales and Northern Ireland and is effective immediately. Realistically this means up to 95% of first time buyers who pay stamp duty will benefit.

First-time buyers of homes worth between £300,000 and £500,000 will not pay stamp duty on the first £300,000. They will pay the normal rates of stamp duty on the price above that. This will save £1,660‎ on the average first-time buyer property.80% of people buying their first home will pay no stamp duty. There will be no relief for those buying properties over £500,000, but in this region there is no need to even go up to £300,000 to purchase your first home.
Take a look at some of the excellent homes we have under the £300,000 mark to whet your appetite and you could easily be celebrating a New Year with your first property.

Thorn Rd at £245,000 this charming 3-bedroom home is in a quiet location in Hampton Hargate with Lake views. In a great spot for local schools too it is ideal for starting your family life with plenty of room for a budding or growing family.

Vale Drive at £145,000 this is a fabulous price for a first-time buyer 2-bedroom coach house in Hampton Vale. With an ensuite to the master bedroom and two reception rooms this is the perfect place to entertain family and friends.

Shipton Grove at £210,000 this 3-bedroom semidetached home has a single garage and benefits from solar panels saving you money on your electricity bills with any unused electricity going to the National Grid so you could earn money!

Eagle Way at £210,000 this great 4-bedroom property means even with a growing family you could stay here until they are grown. There is a garage and parking space that lead to the garden area and schools and local facilities here mean the next time you sell is to downsize when your family has grown.

Wayside Crescent at £219,000 this fantastic value 3-bedroom semidetached home is ideal for first time buyers. It is even set up for a hot tub in in the decked garden – just imagine the fun you could have.

Bayleaf Ave at £215,000 this lovely 3-bedroom town house enjoys a fabulous location on one of Hampton Vales premier roads and is a wonderful place to invest in your future with 3 spacious bedrooms.

If you would like to know more about how much the scrapping of stamp duty could save you, talk to one of our Relationship Managers on 01733 592020.