The Scottish Government have offered a bonus to house buyers by raising the threshold of LBTT from £145,000 to £250.000. This means that eight out of ten house buyers will benefit from not paying LBTT.
The Government have also pledged a further £50 million investment into their First Home Fund initiative. Helping first-time buyers to get onto the property ladder with up to £25,000 shared equity on properties of any value.
On what has been a particularly trying time for all of us through this pandemic lockdown. Help like this is greatly received, allowing many people to move on with their lives.
This is a great time to look at moving home and swapping this year’s holiday restrictions for a brand new home.
With the average new build homes in Scotland selling at around £225,000, representing about 80% of properties in Scotland. With no LBTT to pay this will allow buyers to consider upsizing or maybe just saving the money.
This is the first time LBTT has been revised since it came into operation five years ago and it is hoped that this adjustment will be part of a long term plan rather than a short term fix.
Buyers will save £2,100 on a £250,000 property, a substantial saving for most.
As well as a great help to those looking to buy a new home, it is an excellent move to kick start the housing market and allow the economy to recover from the last few months.
New Home Locations
At Allanwater Homes we have a selection of stunning homes from apartments to detached villas in popular locations such as Alva, Alloa, Stirling, Cambusbarron, Heartlands, Dunfermline and Saline.
Throughout the next twelve to eighteen months we also have some great locations for further development coming soon.
As a family business we know about building family homes, we understand the needs of modern families of today and we believe in honesty, transparency, quality, flexibility and good aftercare – that’s the Allanwater Advantage.
Our friendly team are always on hand to help, providing guidance, advice and information on all our properties and developments.
As we start to open our doors we have put in place a strict appointment only system to ensure the safety of both our staff and customers. Bring you peace of mind that when you visit an Allanwater Homes development you will be safe.
Take a look through our website at our varied locations, stunning properties and excellent prices.