Families looking to trade up to a bigger property can save £4,250 on the cost of a four-bedroom detached home at Crest Nicholson Chiltern’s Dorridge development under the government’s new reduced Stamp Duty Land Tax rates.
The £294,950 ‘Sandown’ property now incurs stamp duty costs of £4,748, – a fall of more than 40% on the fee incurred (£8,848.50) on a home of the same value before the rules changed on 4 December last year.
The two-bedroom ‘Sandown’ is one of the newly built family homes at Crest Nicholson Chiltern’s Dorridge Gate development, located in Solihull.
The property is ready to become the dream home of a young couple or even downsizers – and it has never been so attainable, thanks to the change in stamp duty and the possibility of using the government’s Help To Buy scheme to bring the purchase price down even further.
Help to Buy is enabling buyers’ budgets to stretch much further, upsizing and up-scaling the types of properties they can afford. And as well as saving buyers money by letting them jump up the ladder, using the scheme also means no need to spend years saving up a hefty deposit.
Amanda Benjamin, Sales & Marketing Director, Crest Nicholson Chiltern, said: “Dorridge proved incredibly popular with buyers from across the spectrum. The recent introduction of a banding system for Stamp Duty Land Tax has seen a reduction in Stamp Duty for around 98% of buyers – including those looking to purchase the ‘Sandown’.
“The new rates effectively knock two per cent off the price tag, which frees up that cash for new buyers to kit out their home with over £4,000 worth of furnishings.
“When you combine that with the option of using Help To Buy, it means dream homes which previously might have appeared unaffordable are now within reach of those looking to get onto the ladder or upsize without having to find a mind-blowing deposit.”
Dorridge Gate comprises a traditional collection of two, three and four-bedroom family houses. Located in Bentley Heath, residents can enjoy the tranquil setting and a village lifestyle, while still being in easy reach of Solihull and Birmingham, with direct links via the M42 at junction 4 or along the A41.
Prices for a two-bedroom ‘Sandown’ house at Dorridge Gate start at £294,950. For further information please contact Crest Nicholson on 01564 330356 or visit www.crestnicholson.com/dorridgegate