Cambridgeshire housebuilder covers extra Stamp Duty costs for homebuyers who reserve this April

Stamp Duty Land Tax (SDLT) is a tax paid when homebuyers purchase a property over a certain price, and the amount buyers pay depends on the cost of their new home. At the start of this month the Stamp Duty rates changed, meaning property seekers will now face higher costs.

Previously, first-time buyers had no Stamp Duty to pay on homes costing up to £425,000, however the threshold has now lowered to £300,000. Existing homeowners have also been affected, with their threshold being reduced from £250,000 to £125,000.

These reductions result in extra Stamp Duty costs of up to £6,250 for first-time buyers and an average of £2,500 for current homeowners.

Ahead of these changes, many buyers rushed to complete on a new home by Monday 31st March. To help home seekers who feel like they’ve missed out, Allison Homes is offering them a second chance and covering the extra Stamp Duty costs if they reserve a property by Wednesday 30th April, enabling buyers to purchase a new build home with the pre-April Stamp Duty rates.

Kelly Toms, Sales and Marketing Director at Allison Homes East, said: “At Allison Homes we strive to help our homebuyers wherever possible so are delighted to be covering the extra Stamp Duty costs, allowing both first and second-time buyers to purchase their dream home without needing to boost their budget.

“By saving on Stamp Duty, buyers will be able to increase their deposit, put the funds towards solicitors’ fees and spend more on decorating their new home. We’d highly encourage interested property seekers to get in touch with our team today, to reserve a fantastic new home before 30th April and save up to £6,250.”