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We have had a couple of confused buyers recently so we thought we'd put together a helpful blog about the current stamp duty guidelines. Its true - stamp duty has got a little bit more complicated over the last few years but don't panic! We are going to try and make this as simple as possible so that you know exactly where you stand when it comes to
A) whether or not you have to pay it, and
B) if you do - how much will you have to pay?
Firstly, its important to establish which one is applicable to you...
IF YOU ARE A FIRST TIME BUYER...
You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.
NB: You’re only eligible if you, and anyone else you’re buying with, are first-time buyers
If the price is over £500,000, you follow the rules for people who’ve bought a home before.
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Calling all Cheltenham Emergency Services workers, NHS staff and Armed Forces...
We all really appreciate you looking after #ourchelt and would like to express our thanks by offering you a discount on our award-winning, sales service commission fee.
Just present your @Blue Light Card during the market appraisal appointment and we will give you an automatic 50% discount from our standard commission fee!
You look after Cheltenham - so let us look after you!
Call 01242 500259 to book a FREE, no obligation market appraisal today.
*Offer not to be used in conjunction with any other offer and only applicable to houses for sale in the GL50, GL51, GL52 and GL53 postcode areas.
50% Discount applied to full standard fee of 1.5% or minimum fee of £1,500, whichever is the greater. Offer not applicable to second to market properties unless they have not been marketed for 3 months.
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1.Your spending will boost the local economy
Research on spending done by local authorities shows that for every £1 spent with a small or medium-sized business 63p stayed in the local economy, compared to 40p with a larger business. High streets populated with thriving independent businesses boost the prices of nearby homes according to a recent study. Research by American Express found that house prices near a prosperous town centre have risen by an average of £40,000 more over the past decade than other properties.
2.It is the ethical choice
When you shop at local butchers, bakers, farm shops and green grocers, it is likely that a decent percentage of the produce has had a short field-to-fork journey. Along with supporting local farmers, it means the food is likely to contain more nutrients and have less packaging.
With regards to local service industries you are benefitting from local experience, knowledge and advice on your local area and market. Resources and focus are less likely to be distorted by need and success of other branches in different areas and long-term goals of expansion.