First Time Buyers – Act now and you could save £1250! | Bradleys Estate Agents | Property for sale in Devon, Cornwall & Somerset

First Time Buyers – Act now and you could save £1250!

- Fri 01 Nov 2024

Following the recent autumn budget statement where Labour chose to make a raft of tax changes, one thing they didn’t change was the date when stamp duty thresholds revert for first time buyers from £425,000 to £300,000, which is on April 1st 2025.

Currently anyone purchasing for the first time doesn’t have to pay any stamp duty up to a purchase price of £425,000, so from 1st April next year, it could mean a difference of up to £1250 in stamp duty tax.

Whilst this may seem a long time away, it is in fact only 5 months, which if you look at the average conveyancing period taking around 4 months, only gives a short period of time to find your first home!

So, what can those aspiring to get on the housing ladder do? Well Group Sales Director at Bradleys Estate Agents, Darren Ellis, gives a few tips to those in a position to consider “I would advise those thinking about getting on the ladder to do the following:

1. Speak to a mortgage advisor and establish whether they are in a position to obtain a mortgage, and if so, how much. Our team of Advisors would be happy to hear from you – simply call 01395 222391 or pop into your local Bradleys office.

2. Once you have established your affordability, register on our mailing list either in person or via our website as properties will feature online here first, or indeed the local Bradleys social channels where you will often see sneak peeks!

3. Speak with your partner/family or both and arrange to view some properties! You will soon get a feel for what you can achieve in your available budget, and you may be surprised.

4. Finally, I advise you also look at local New Homes developments. Many will feature incentives to help you afford your dream first home. You check out all our new homes for sale here.

If in doubt, for any help or advice, speak with to your local Bradleys office where the experienced team will be delighted to help you through each step

In addition, you may want to read a step by step guide to buying your first home.

Bradleys Estate Agents provides sales and lettings, mortgages, surveys and conveyancing as well as new homes from Taunton in Somerset, throughout most of Devon and Cornwall down to Penzance. With 30 offices covering the region, they are the largest independent Estate Agents in the West Country and also have a team of specialist Mortgage Advisors to assist anyone seeking to obtain a mortgage, re-mortgage or seek Equity Release.

First Time Buyers – Act now and you could save £1250!

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