With the rules around stamp duty, formally known as Stamp Duty Land Tax, due to change from April 1, anyone buying a residential property in England faces a race against time.
Anwyl Homes is building and selling homes at Parr Meadows in Eccleston; Priory Gardens in Burscough and Stonebridge Fold in Longridge, and is advising purchasers that to pay the current lower rate, they’ll need to reserve their new home by mid-February and complete the purchase by March 31.
From April 1, the threshold above which first time buyers in England will have to pay stamp duty will drop from £425,000 to £300,00. Movers replacing their main home will see the threshold drop from £250,000 to £125,000.
Anwyl Homes sales director Matthew Gould said: “Stamp duty changes are likely to impact most homebuyers, adding hundreds or even thousands of pounds to the cost of moving. If people act fast and reserve a new home by the middle of February, they could move before the new stamp duty rules come into play – even if they have a house to sell.
"We can help wrap up that sale with our Move Simple scheme, appointing an agent and contributing toward their fees or potentially we could even take the customer’s home in part exchange for a new one. We can also recommend solicitors who’ll deal with all the legal formalities quickly and professionally so that the purchase is complete before the stamp duty deadline.”
Anwyl has properties across Lancashire that will be ready to move into before April 1, meaning buyers would pay the current rate of stamp duty.
To help people understand how stamp duty changes, Anwyl has created an easy to follow guide for homebuyers.
Discover more about where Anwyl is building via their website.