Member Article

David Wilson Homes welcomes changes to stamp duty

David Wilson Homes Yorkshire West division has described the recent changes to stamp duty as a ‘boost to Leeds homebuyers’ and is encouraging those looking to purchase a new home 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 David Wilson Homes development Bodington Manor, in Adel, Leeds, said the changes should prove “a real boost to many of the home buyers in West Yorkshire.”

She added: “These changes mean the stamp duty payments on homes in Bodington Manor are sizeably reduced – with our five bedroom houses starting at £514,995, under the old regulations stamp duty would have been £20,599. Under the new rules the cost is £15,749, a huge saving of £ 4,850.”

She continued: “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.”

Bodington Manor is a new community of impressive four and five bedroom family homes in the Leeds suburb of Adel available to buy from £514,995.

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