Looking to purchase a new home in Scotland?
As of Wednesday 15th July, you will benefit from the temporary cut to Land and Buildings Transaction Tax (LBTT) announced by the Government, meaning that buying your dream Cala home could be more attainable than you think.
This new scheme will run until April 2021 but why not search for your new home now across our Scottish developments some of which are ready to move into now.
How does it work?
If you purchase a home under £250,000, you will pay no LBTT.
Where the purchase price is over £250,000, you will still save on the LBTT up to this amount, and will pay LBTT above this amount at the usual amount.
For example, from today:
| PURCHASE PRICE |
LBTT RATE (RESIDENTIAL) |
| UP TO £250,000 | ZERO (+4% FOR SECOND HOMES) |
| ABOVE £250,000 TO £325,000 | 5% (+4% FOR SECOND HOMES) |
| ABOVE £325,000 TO £750,000 | 10% (+4% FOR SECOND HOMES) |
| OVER £750,000 | 12% (+4% FOR SECOND HOMES) |
If you’re buying your first home, you may also be eligible for the First Home Fund, meaning you could also receive up to £25,000 toward your deposit.
