Forming part of the Government’s coronavirus recovery plan to help support the property market in England and Northern Ireland, the stamp duty threshold has been temporarily raised until 30 June 2021. This means purchasers now won’t pay the tax on the first £500,000 of their new home purchase.
At Millennium Fields, Cala Homes has seen a wave of buyers to the site, looking to make the most of this money-saving opportunity.
Alison Deakin, Sales and Marketing Director at Cala Homes Thames, comments: “The announcement of a stamp duty holiday by the Government in an attempt to recover some of the UK’s property market is a great step and at Cala we’re already seeing the benefits of this across many of our sites.
“With households being confined to the four walls of their home during the coronavirus lockdown, many will be finding ways in which their existing home does not suit their needs or lifestyle – perhaps it lacks a study or somewhere for children and parents to have their own space. However, with the lockdown also having a financial impact, house movers and first-time buyers may not have been able to envisage a costly house move at this time. That’s why the stamp duty holiday will be music to many ears, with it saving buyers on average up to £15,000 on the purchase of a home.
“At Millennium Fields, we’ve seen incredible success with four reservations made in the wake of the announcement – and we now have just six remaining, which we expect will sell soon as more buyers jump on the back of the stamp duty relief. As such, we’d encourage any interested purchasers to make an appointment to visit the sales suite at Millennium Fields before it’s too late.”
For purchasers who are still looking to make the most of the stamp duty holiday, all of the remaining homes at Millennium Fields are in the popular three-bedroom, three-storey ‘Ickhurst’ housetype, which features an open plan sitting and family room, separate kitchen/dining room and three spacious bedrooms. Priced at £465,000, buyers of this home will pay no stamp duty, potentially saving up to £15,000 on the purchase. A selection of the homes are also available to purchase with the housebuilder’s Part Exchange Service or Help to Buy scheme.
For those with a property to sell, Cala’s Part Exchange Service can save time and money. The scheme works by the homebuilder effectively acting as a cash buyer for the seller’s existing property, providing them with the peace of mind that the sale will complete in time for the move into their new home. With no estate agents’ fees incurred, the service could also save thousands of pounds on the overall cost of the move.
Designed for both first-time and existing homebuyers, the Help to Buy scheme is for purchasers who need support with deposit funds, enabling them to obtain a mortgage of between 75% and 85% with as little as 5% cash deposit, with the option to purchase additional equity. This initiative is available on all homes with a maximum purchase price of £600,000.
For those who would prefer to continue their housebuying journey from the comfort of their own home, Cala’s sales team can provide one-to-one telephone consultations. There is also a whole host of information on the Cala website, including a virtual tour of the Ickhurst housetype at Millennium Fields. Reservations can also be taken remotely.
For further information, phone the sales team on 01344 798 694 or visit www.Cala.co.uk.
