Current Statistics ►

The Chancellor has announced that stamp duty is to be abolished for all first time buyers on properties bought up to £300,000, effective from today. In addition, first time buyers purchasing properties up to £500,000 will pay no stamp duty on the first £300,000.

In his Budget, Philip Hammond announced that 80% of first time buyers would pay no stamp duty at all. With 358,000 first time buyers in the last year, this means that at least 24% of all sales in the UK’s housing market are set to be charged 0% tax. Once other exempt sales under £125,000 are taken into account, this figure will be even higher.

Two thirds of properties bought so far this year across the country have been under the new threshold but there are large regional variations. In Wales and the North East, over 90% of sales in the last year have been over £300,000 while just 17% of sales in London were for less than £300,000.

While good news for first-time buyers, this will further squeeze investors in the sub-£500,000 market who are already suffering from increased taxes. What's more, it does not, give any encouragement to owners higher up the chain to downsize.

September 2017

After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included. 

www.heather-lay.co.uk

 

 

Natalie took part in the Cancer Research Race for Life Pretty Muddy on Sunday 3rd September. It was "pretty muddy" due to the Cornish Autumn weather, but a brilliant time was had by all and Natalie raised a fantastic total of £183.00 for Cancer Research!

August 2017

h_l_banner

Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.​

Starter Home Initiative

Starter Home Initiative

Buying GPEA 24th February 2017

First-time buyers aged between 23 and 40 may soon be able to buy a new home at a discount of a least 20% below market value, under the government’s ‘Starter Home’ initiative.

 

The properties will start being built this year, the housing minister Gavin Barwell confirmed at the beginning of the New Year, with an initial group of 30 local authority partnerships leading the schemes.

 

Funding will be supported by the government’s £1.2 billion Starter Homes Land fund, which was established last April.

 

The fund was set up to assist the aim of building 200,000 Starter Homes by 2020 on brownfield sites in England, such as those currently or previously used for commercial or industrial purposes.

 

However, critics of the scheme claim that as the maximum price after the discount has been applied will be £250,000 outside London and £450,000 in the capital, the new properties won’t be affordable for many first-time buyers.

 

It’s expected that they won’t be able to sell on or let their Starter Homes at their open market value for a period of at least five years after the initial sale.

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