|
|
|
|
First-time buyers urged to act now to avoid stamp duty changes
|
| Friday 9th December 2011 |
Somer Housing Group is urging people looking to buy their first shared ownership home to act fast to beat the axing of stamp duty relief next March.
The ending of stamp duty relief for all first-time buyers, announced in the Chancellor's mini Budget, means that from 24th March 2012, people buying their first home will have to pay 1% stamp duty on properties over £125,000.
This will add at least £1,250 onto the cost of buying.
Somer Housing Group helps first-time buyers onto the housing ladder through its shared ownership scheme, and currently has affordable homes for sale at the Bath Riverside development as well as in Temple Cloud, Radstock and Stoke Gifford.
Somer Housing Group's Marketing and Sales Manager, Sarah Turton, said: "Shared ownership is a popular way for people to get a foot on the housing ladder and at the Bath Riverside Development we have now taken reservations on nine of 17 shared ownership apartments. It typically takes 10 - 12 weeks to complete a sale, so our message to anyone thinking of buying their first home is don't delay if you want to beat the 24th March deadline."
Stamp duty relief was designed to help increase the number of first-time buyers entering the housing market, however the Government has said that the relief has not been effective in achieving this.
For further information about shared ownership or to enquire about
affordable homes for sale, contact Somer Housing Group's Marketing and Sales team on 01225 366307 or somerhomes@somer.org.uk, or visit www.somerhomes.co.uk. |
| Posted by 0 for Somer Housing Group Ltd. |
| |
|
|
|
 |
|
