First Time Buyers
Wed 13 Nov 2024
If you are considering purchasing your first ever home, then the next few months are the ideal time to start your search.
In the recent budget, the Chancellor announced a change to stamp duty (stamp duty land tax or SDLT) paid by first time purchasers. Currently first time buyers do not pay any stamp duty on purchases up to £425,000 and 5% on purchases from £425,001 to £625,000. From 1st April 2025, first time buyers will not have to pay stamp duty on a purchase of up to £300,000 and from £300,001 to £500,000 a 5% tax will be due.
With the reduction in the Bank of England Bank Rate last week and with some lenders reducing their mortgage rates, now is a good time for first time buyers to look to purchase.
Eric Lloyd & Co have a range of properties suitable for first time buyers from two 1 Bedroom Flats in Prince William Court, Brixham at £105,000 & £110,000, a selection of 2 and 3 Bedroom Homes and a choice of cottages, there is something for everyone. Check out our website which showcase all our properties for sale – ericlloyd.co.uk
So if you are considering starting your first steps on the housing ladder, then give us a call to discuss your requirements. Brixham 01803 852773 or Paignton 01803 844466. We are here to help.