Member Article

Barratt Homes welcomes new changes to stamp duty

Barratt Homes Yorkshire West division has described the recent changes to stamp duty as a ‘boost to homebuyers’ and is encouraging those looking to purchase a new home in Keighley to take advantage of the reduced rates.

The changes came into effect on 4th December 2014 for buyers in England, Scotland and Wales, and mean 98% of those who must pay stamp duty, will pay less than before as the new rates change on a sliding scale dependent on the value of the property.

Stacey Foster, Sales Manger at Barratt Homes’ development, Vision, in Keighley, said the changes should prove “a real boost to many of the home buyers in Keighley.”

She added: “These changes mean the stamp duty payments on homes in our Vision development are sizeably reduced and with our two bedroom houses starting at £112,995 buyers do not pay any stamp duty at all. If purchasing a four bedroom house at Vision which start from £169,995, under the old regulations stamp duty would have been £1,699. Under the new rules the cost is £899, a huge saving of £800.

“We urge buyers to look at how much money they will be able to save as a result of the changes and then consider whether to use that saving for a higher deposit and reduced interest payments. For some customers it may just make the difference between buying and not buying.”

Barratt Homes’ popular Vision development offers a wonderful choice of two, three and four bedroom family homes available to buy from £112,995. All homes are available to buy using Help To Buy and Part Exchange from Barratt Homes, which both offer attractive benefits to a prospective buyer.

This was posted in Bdaily's Members' News section by Richard Savage .