16th April 2016
Stamp Duty Changes Increase Opportunity for First Time Buyers
First time buyers – The opportunity for first time buyers to purchase their first home should have improved with the recent changes in stamp duty (SDLT).
The government’s budget changes to SDLT mean that, landlords and those people looking to buy a second residential property, will now have to pay an additional 3% of the purchase price in stamp duty.
For example a property costing £150,000 would now cost landlords an additional £4,500 to complete the transaction.
This additional levy should be seen as a welcome change for first time buyers as it should improve the chances of getting onto the property ladder, with landlords rethinking their calculations.
Making the step to buying your first property may seem daunting but with the right advice you can make the right decisions.
At Matthew’s we enter our 30th year of business and we are able to share the wealth of knowledge and experience we have about home ownership and first time buying.
We have an extensive sales team that have substantial understanding of the whole sales process and also enviable knowledge of Chester and the surrounding areas.
So…., should you be thinking of buying your first home and want some free (& no obligation) advice, please call into our office to discuss the sale process and ask any questions. You will also be able to speak with our financial advisor John Cousens (MAB) to discuss the mortgage market and affordability.
Also visit our website to see some of our sales guides to assist you with the sale process.