You probably know that there’s no Stamp Duty to pay on first homes valued at £500k or less and purchased before 31st March 2021, but did you know that there are also Stamp Duty savings to be had on properties worth more than £500k?
That’s right – if you’re buying a primary residence (the rate is higher for additional homes) valued at between £500k and £925k, Stamp Duty will be just 5% if the sale is completed by 31st March 2021.
For the three luxury homes that are still available at The Sycamores in Coniston Cold, this represents a saving of £15k when compared with the rate that will apply from 1st April 2021. For the development’s namesake home, the palatial Sycamore (pictured above), which benefits from five bedrooms, a wealth of living space and our comprehensive, top level Superior specification, Stamp Duty is currently £11,500, rising to £26,500 on 1st April.
For the four-bedroom, detached Rowton (shown under construction below), which has charming architecture inspired by the old cottages of Coniston Cold, Stamp Duty will be just £4,750 instead of £19,750 – and this home will be ready to move into for Christmas. The same savings apply to Alder Cottage, our characterful, four-bedroom barn refurbishment, which will be ready early in 2021.
At our other developments we have several homes available with NO Stamp Duty to pay whatsoever until 31st March 2021. Just one home is still available at Victoria Fold in Sabden, the four-bedroom Rivers. This desirable, spacious corner home boasts a large garden and a garage with space above – perfect as a home office or gym – and is priced at £450,000. It’s the home on the left below, and will also be ready to move into for Christmas.
Our luxurious, lock-up-and-go lateral apartments at The Bridge in Haworth are priced from £100,000, and therefore there’s no Stamp Duty to pay when purchasing them. We’re making excellent progress on site, with our first buyers taking ownership in late November. A mix of one and two bedroom apartments are available across four floors, many with views of the Worth Valley Railway and surrounding countryside, and all with flooring and carpeting included, lift access, parking, and a communal garden.
Over at St. Stephen’s Place in Skipton, we’re hoping to complete our three bedroom, new build townhouses, priced from £435,000 – £455,000, in time to benefit from these Stamp Duty savings, but we can’t confirm at present. Find out more about all the homes mentioned above by clicking on the images or links in bold.
Use the Government’s handy calculator to work out your Stamp Duty savings based on your individual circumstances – link here – and remember that the savings mentioned above are only relevant if the property in question will be your only home.