In the build-up to the Autumn Statement, big things were teased for housing. Surprisingly, this year the government didn’t disappoint – at least not for first time buyers.
The Statement’s headline was the decision to cut Stamp Duty for first time buyers on properties up to £300,000 (or on the first £300,000 for properties worth £500,000 in London). So much more than just a political punchline, this announcement pricked the ears of those looking for their first home.
As a cost that needs to be paid upfront, Stamp Duty can significantly add to the length of time needed to save for a deposit. So, for those young people facing ever-increasing costs to get on the housing ladder, eliminating a (likely) £5,000 fee is a major boost.
This will be especially positive for those looking to purchase a property in regional cities, where prices remain competitive, and also guarantees that first time buyers won’t pay any Stamp Duty on any of Forty/8’s current properties.
The Hallmark, Manchester
A 15-storey luxury development in Manchester’s Green Quarter just 800m away from Victoria Station. The Hallmark comprises 145 one and two-bedroom apartments, with prices from £175,000.
Orleans House, Liverpool
Orleans House is a Grade II listed cotton warehouse conversion in the heart of Liverpool’s commercial district, offering 71 studio, one, two and three bedroom apartments. Prices start at £167,000 and 65% of apartments are now SOLD, so don’t miss out.
Located on Chatham Street, just a 10-minute walk from Leicester’s shops, amenities and transport links, Aria is a collection of 93 luxury studio, one and two bedroom apartments. Prices begin at £100,000.
Not forgetting owner occupiers and investors
For a limited time, Forty/8 is also offering a huge range of incentives on selected apartments in Orleans House and Aria. This includes extra deals on Stamp Duty for owner-occupiers and buy to let investors, and we will even pay solicitors’ fees (when using an approved solicitor) and building service charges during their first year.