Budget brings Stamp Duty savings for first-time buyers

Budget brings Stamp Duty savings for first-time buyers

Posted 04 December 2017

First-time buyers will now pay £5,000 less Stamp Duty on a £350,000 home.

First-time buyers purchasing a new home at Knights Wood in Tunbridge Wells are now likely to pay significantly less Stamp Duty, following the Chancellor’s announcement in last week’s Budget.

From 22 November 2017, Stamp Duty was abolished for first-time purchases of homes costing up to £300,000, with the existing rate of 5% applied between £300,000 and £500,000. The relief will not apply to properties above £500,000.

Shown here on the left, the two-bedroom Victoria is popular with first-time buyers

As a result, first-time buyers at Knights Wood purchasing a house costing £350,000 will now pay £5,000 less Stamp Duty as a result of the announcement (£2,500 down from £7,500)*. In addition, Dandara will also make a contribution towards Stamp Duty on selected plots (terms and conditions apply).

The two-bedroom Victoria has always proved to be the most popular home amongst first-time buyers at Knights Wood. Set within The Lanes, a popular area of the development inspired by traditional Kentish architecture, the Victoria is a terraced or semi-detached property with the benefit of allocated off-road parking, a combined kitchen/dining area and a separate living room with double-doors to the garden.

Speaking after the Chancellor’s announcement, Susie Bennett, Sales and Marketing Director at Dandara said:

This is fantastic news. When buying your first home, every penny counts and saving thousands of pounds can make a huge difference at what is undoubtedly an expensive time. We hope that this announcement will make it easier for first-time buyers to afford their dream home at Knights Wood.

For further information or to make an appointment to see one of the stylish Show Homes at Knights Wood, call 01892 800580 or visit the Marketing Suite, which is open daily from 10:00am to 5:00pm. Stamp Duty contribution and Help to Buy available on selected plots, subject to terms and conditions.

*Stamp Duty savings calculated using the Stamp Duty Land Tax (SDLT) calculator. Figures correct at time of writing.

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