Why is now a good time to buy new?
Its never been a better time to buy a new-build home with the many incentive schemes in place to help get the nation moving again.
For those considering a move, spending more time at home than ever before has meant more time to reflect on what is important to them in a property search – and it’s no surprise that private outside space and a study area is currently topping the list of priorities.
Following the re-opening of the UK property market in May, there has been a marked interest from prospective buyers keen to pick up their search for a new home and maximise the great choice of options and schemes on offer to support the industry in getting the nation moving again.
Here, we round up our top reasons on why now is a good time to buy, and why it’s an even better time to buy new.
- Stamp Duty Holiday
- Help to Buy Equity Loan
- Interest rates
- Exclusive Millgate incentives
The introduction of the Stamp Duty Holiday means all properties priced £500,000 and below are now exempt from the buyers’ tax until March 2021. With a potential saving of up to £15,000 it is no wonder many home movers have got their search underway to secure a property before the deadline.
Whether you are a first-time buyer or existing homeowner, you can take advantage of this saving. However, it is worth keeping in mind that your sale needs to be complete by the deadline to take full advantage of the tax saving.
At Millgate, we have several properties available to purchase with Help to Buy, allowing you to secure a luxurious new home in some of the country’s most popular locations with just a five per cent deposit and a government equity loan of up to 20 per cent.
While the initiative is currently available to those who already own a property and buyers looking to step onto the property ladder, from April 2021 the scheme will be restricted to first-time buyers.
It is important to remember that to benefit from the scheme, the property you’re purchasing has to be completed by 31st December 2020.
Lockdown has meant far more time at home – and the ideal opportunity for buyers to search around for the right mortgage deal. Interest rates are at an all-time low with some deals offering 0.5%.
With our homes under the spotlight more than ever before, we want to help you secure your dream Millgate home - which is why if you reserve at our any of our developments during October, you’ll only need to pay a five per cent deposit and we will match it.
Whether you are a first-time buyer or already own your own home, we can guide you through every step of the buying process - from finalising your deposit to our tailor-made incentives. Find out more today about our range of developments here: www.millgatehomes.co.uk/new-homes