Househunters in Wales have been urged to take advantage of the Land Transaction Tax (LTT) holiday extension, potentially saving thousands of pounds.
The Welsh Government has announced that the temporary increase to the nil rate band of LTT has been extended to June 30. This means that anyone buying a property up to the value of £250,000 before July 1 will pay nothing in LTT. After that date, the nil rate band will revert back to the £180,000 threshold. The holiday was originally brought in to help stimulate the property market during the pandemic.
Sharon Bouhali, sales director at Charles Church West Wales, said: “The extension of the LTT holiday can only be good news for househunters. It’s great for people already going through the buying process – but, if people act quickly, it’s also possible to start a transaction now and complete before the deadline. Anyone buying a property up to £250,000 with pay nothing in LTT, which is obviously a huge boost. Then anyone buying a property up to £400,000 will pay five per cent on the cost above £250,000 as usual – but they won’t be paying the 3.5 per cent of £70,000 between £180,000 and £250,000 on top of that as they would do ordinarily. We’d urge people to talk to our experienced sales advisors about our homes that will be ready before July.”
LTT on a £250,000 property would normally be £2,450. Or, for example, LTT on a £424,995 five-bedroom Fenchurch at Charles Church’s Peterston Park development in Pontyclun would usually be £11,824.62 but is currently £9,374.62.
Sharon added: “Peterston Park is a stunning development where we have a range of four and five-bedroom executive style homes, including the Fenchurch, Harley and Knightsbridge.”
Peterston Park is the first phase of a 1,850 house development off junction 35 of the M4. The site has long been designated by Rhondda Cynon Taf council (RCT) as a key strategic development site.
06 April 2021
Setting the standard for Cheddington homes
A newly-appointed site manager has outlined his commitment to quality and customer service at a Cheddington new homes development.
Brooke feels her Fenchurch home is perfect for Instagram
With more than 15,000 Instagram followers, Brooke Hampson believes the success of her account is down to her Charles Church home being so ‘Insta-worthy’.
05 April 2021
Final home in picturesque community
Would-be homeowners can snap up a luxurious fully fitted show home in a picturesque new-build development in Flockton.
03 March 2021
Stunning views lure Andy back to hometown
Many people have grown tired of the view from their windows after a year in which everyone has spent the majority of time confined to their homes – but that will never be the case for Andy Jones.
Looking forward to welcoming friends into her Charles Church home
The beauty of buying a new build is that you start from the beginning with a blank canvas, says our newest Charles Church Instagram Ambassador.
Search new homes by cities in the UK
Images shown are for illustrative purposes only. Elevations and treatments may vary.
The prices shown are correct at the time of being published but are subject to change without prior notice, please contact our Marketing Suite for accurate price information.
Site layouts are intended for illustrative purposes only, and may be subject to change, for example, in response to market demand, ground conditions or technical and planning reasons. Trees, planting and public open space shown are indicative, actual numbers and positions may vary. Site plans does not form any part of a warranty or contract. Further information is available from a site sales advisor.
The dimensions shown are approximate and the precise measurements may vary.
For full details on the HM Government-backed Help to Buy: Equity Loan scheme please visit www.helptobuy.gov.uk.
Every effort has been taken to ensure the information provided here is accurate however, particulars regarding local amenities and their distances are for general guidance only. Where schools and other educational facilities are mentioned they are intended to highlight their distance from the development and don’t represent a guarantee of admission or eligibility. Travel times and distances assume journeys are made by car. Times are likely to vary according to travel conditions and time of day.
Copyright 2020 Charles Church. All Rights Reserved.
Charles Church Development Limited, Registered Office: Persimmon House, Fulford, York UK, YO19 4FE.
Registered in England No. 1182689