Help to buy - The Woodlarks

HELP TO BUY

SECURE YOUR NEW WOODLARKS HOME WITH AS LITTLE AS 5% DEPOSIT

 

The UK’s Help to Buy scheme means you can buy a new Bugler property at The Woodlarks with as little as 5% deposit, whether you’re a first-time buyer or you’re simply moving from your existing place. This applies to homes with a value of £600,000 or less.

 

Quite simply, the Government lends you up to 20% of the cost of your newly built home, so all you need to do is put down the 5% cash deposit and secure a 75% mortgage for the remainder. To take advantage of this scheme, you will need to have completed your purchase by 31st March 2021. Subject to terms and conditions.

Stamp duty land tax: Temporarily reduced rates

Enjoy substantial savings on stamp duty for a limited time

If you complete on your Woodlarks home by March 2021, you will benefit from significant savings on your overall purchase price by making use of the government’s Stamp Duty Land Tax temporary reduced rates as announced in August 2020 by Chancellor Rishi Sunak. Exact savings depend on which home you choose and whether you are a first timebuyer, but here’s how it works:

 

The first £500,000 of a purchase price will incur no Stamp Duty at all, and if say, you’re buying a place worth £600,000, you’ll only be paying Stamp Duty of 5% on £100,000 – in this instance, £5,000. Under the previous scheme, if you were not a first-time buyer, you’d be paying £23,750. This is obviously a massive saving and brilliant incentive to act quickly on securing your Woodlarks home before the window closes.

New temporary stamp duty holiday rates

Up to March 31st 2021

 

Up to £500,000: 0%
On the portion from £500,001 to £925,000: 5%
On the portion from £925,001 to £1.5m: 10%
Above £1.5m: 12%

Previous stamp duty rates

(To be re-introduced 1st April 2021)

 

Up to £125,000: 0%
On the portion from £125,001 to £250,000: 2%
On the portion from £250,001 to £925,000: 5%
On the portion from £925,000 to £1.5m: 10%
Above £1.5m: 12%