In the November Budget the Chancellor Philip Hammond gave the property market a much needed boost by effectively abolishing stamp duty for First Time Buyers. The changes mean that no tax is payable if a First Time Buyer purchases a property upto the value of £300,000, and greatly reduced amounts over £300,000.
The market has seen the decline in new purchases by landlords and Buy to Let investors since the increases in taxes payable by anyone owning or buying a second home.
The good news in November should see an increase in sales of smaller properties. Typically in Cambourne a 2 bedroom house will cost around £250,000. The new stamp duty changes mean that a First Time Buyer will save around £2,500! This amount can all be used towards the DEPOSIT, making it easier and quicker to take the first step on the property ladder.
The increased demand at the bottom of the market will mean property prices will start to increase. It is our advice, therefore, to make your purchase as soon as possible.
Throughout the first quarter of this year, we will be holding a series of workshops and events aimed at both first time buyers and first time SELLERS. For first time buyers we will have experts on hand from The Mortgage Broker Limited and legal professionals to offer advice on buying your first home and all the related costs and procedures. We will then offer dedicated viewing times with your personal Property Consultant to show you around suitable properties that meet your needs in the locations that best suit your needs.
We, therefore, will be offering advice and discounted selling fees to those vendors thinking of selling a property suitable for a first time buyer. Ideally, these properties will be both flats and houses, with one or two bedrooms. Our advice will include how to present your property at its best, how we will effectively market it throughout the property portals for best impact, how we conduct every viewing, and how we negotiate a successful sale.
If you are a first time seller, or an investor thinking of selling a smaller property, make the most of the increased number of First Time Buyers and our special discounted fees* (for a limited time only)
Simply, call the office on 01954 710700 or click the link //www.malcolmsproperties.co.uk/selling/book-a-valuation/
for a FREE consultation if you are thinking of selling