September 26, 2023

stamp duty changes

Good News for Shared Ownership Properties According to Recent Stamp Duty Changes

<p>With the changes to Stamp Duty Land Tax announced in the 2018 Autumn Budget, there<br/> has never been a better time to get on the property ladder.</p> <p>Buyers of Shared Ownership properties valued at under £500,000 are now exempt from<br/> paying Stamp Duty, while those that have purchased a property for less than £500,000<br/> under the scheme within the last year are eligible for a refund for the tax they have paid.</p> <p>This is a marked increase from the 2017 budget which saw first time buyers exempt on the<br/> first £300,000 of any property purchased in England, Wales and Northern Ireland, which can<br/> be seen as a concerted effort on the Government’s part to increase the number of first time<br/> buyers (FTBs) and duly backed by the Spring statement which proclaimed the number of<br/> FTBs to be at an 11 year high.</p> <p>Yesterday’s announcement shows a continuation of this trend, meaning the time is right to<br/> get a foot on that all important first step of the housing ladder, something that the Shared<br/> Ownership scheme has been particularly useful in doing.</p> <p>DWS Legal are experts in first time buyers, dealing proficiently with Help to Buy Equity Loan and<br/> ISA schemes, and being named specifically as one of Help to Buy’s chosen, panel solicitors (<a href=""></a>).</p> <p>At DWS Legal, we understand that buying your first home can be a daunting experience,<br/> which is why we treat all cases with the diligence, attention and care that they deserve,<br/> through staff that are experts in all aspects of the buying process.</p> <p>If you want further information on how the Stamp Duty changes or buying under the Shared<br/> Ownership scheme can benefit you, please contact the office.</p> <p>0116 2999 199</p> <p></p>
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