First Time Buyers urged to make their move ahead of stamp duty increase
Bloor Homes will pay a 5% deposit on selected plots for buyers wishing to move to one of the final new homes before Christmas.
Bloor Homes is urging First Time Buyers to take a look at their options for buying a new home at Keyworth Rise before the predicted rise in stamp duty tax for First Time Buyers in early 2025.
This comes as the developer has released its last energy-efficient homes in the final phase of this popular development in Nottingham where the new-builds’ Energy Performance Certificate (EPC) ratings will allow purchasers to qualify for a green mortgage which could have better rate than a regular one.
The threshold was raised by the previous government to allow First Time Buyers to pay zero stamp duty on purchases of up to £425,000 until March 2025. With the new Labour government indicating that they will not be extending the threshold beyond this date, anyone buying a home for the first time from April 2025 will pay stamp duty tax on properties over the lower threshold of £300,000.
Angie Prince, Sales Director for Bloor Homes’ Midlands region, said: “The change to the threshold means First Time Buyers have just a few months to secure one of our last remaining homes at Keyworth Rise before the threshold is removed in March 2025.”
“As a builder of new homes, we are not only able to offer the advantage of having no forward chain, which speeds up the whole process, there are ‘green mortgages’ available for purchasers choosing a new, energy-efficient home. This could allow purchasers to receive cashback and/or better interest rates from lenders when buying an energy-efficient property.
“To add to this, we are offering to pay the 5% deposit required by many lenders on selected plots, making now a great time to make the move to a brand-new home. In other words, anyone currently saving for a deposit won’t have to find it in time for the stamp duty threshold change, we can pay it for them.”
Angie continues: “We pride ourselves on providing energy-efficient and cost-effective properties for forward-thinking buyers who wish to explore the green mortgage schemes. The EPC ratings also mean that purchasers can both save up to £183 a month on energy bills and live in a home which produces 60% less emissions than a second-hand property.
“It is definitely worth exploring the savings that can be made via a green mortgage with financial advisers or directly with lenders. And of course, anyone wishing to find out more about the new homes and how they can benefit from our Deposit Paid scheme can visit the sales centre and showhomes to talk to our friendly sales team.”
Keyworth Rise is located on Bunny Lane in Keyworth, just 6 miles from Nottingham and West Bridgford, with a range of three, four and five bedroom homes.
For more information about Bloor Homes’ developments in the Midlands, visit bloorhomes.com