If you’re considering purchasing a Burghley Living apartment, now is the time to act. Recent changes to Stamp Duty Land Tax (SDLT) could increase upfront costs for buyers, but with Burghley Living’s exclusive winter offers, you can beat the hike and enjoy incredible benefits. Here’s what you need to know about the stamp duty increase and how we’re making it easier than ever to move into your dream home.
Stamp Duty, and What Are the Changes?
Stamp Duty Land Tax is a tax payable when you purchase property or land over a certain value in England and Northern Ireland. The amount depends on the property price and whether it’s your main residence or an additional property.
As part of the 2024 Budget Announcement by Rachel Reeves, significant changes to Stamp Duty will take effect on April 1, 2025. These changes include:
• Tax-Free Threshold Reduction: The nil-rate band, where no stamp duty is payable, will reduce from £250,000 to £200,000 for residential properties. This means buyers will start paying Stamp Duty on property purchases above £200,000 instead of £250,000.
• Revised SDLT Rates: Adjustments to the tax bands will see higher rates applied across most price ranges.
• Additional Property Surcharge: The surcharge for additional properties will increase from 3% to 5% and will now apply from the £200,000 threshold instead of £250,000, further raising costs for investors and second-home buyers.
How Burghley Living Helps You Beat the Changes
At Burghley Living, we understand that these adjustments can feel daunting, but we’re here to make your move as seamless and cost-effective as possible. By completing your purchase before March 31, 2024, you can take advantage of one of our exclusive winter offers:
1. Service Charges Paid for Two Years: Enjoy peace of mind knowing that your service charges—covering maintenance of communal areas, gardens, and the lodge manager’s support—are fully covered for the first two years.
2. Interior Design Package Included: Carpets, curtains, and light fittings will be installed in your new apartment at no additional cost, courtesy of our professional interior design team.
3. Two Years of Bill Contributions: Let us ease your financial load with contributions toward your utility bills for the first two years.
Why Act Now?
• Avoid Additional Costs: With the new stamp duty increase, rates are taking effect soon, acting now can save you from further increases.
• Secure Your Dream Home: Our luxury apartments for over-55s offer a stress-free lifestyle in beautifully designed surroundings.
• Maximize Value: Burghley Living’s winter offers represent thousands of pounds of added value, but they’re only available until March 31, 2024.
Next Steps
1. Calculate Your Stamp Duty: Use an online calculator or speak to your solicitor to understand your liability under the new rules.
2. Take Advantage of Our Offers: Reach out to our development consultants to secure your winter offer and complete your purchase before the deadline.
3. Book a Viewing: Visit one of our developments to experience the Burghley Living lifestyle firsthand.
Conclusion
While stamp duty changes may have increased the cost of purchasing property, Burghley Living’s exclusive winter offers make now the ideal time to buy. Complete your purchase by March 31, 2024, and enjoy incredible benefits that will make your transition into a Burghley Living apartment smooth and rewarding.
Contact us today to learn more about our developments and offers. Let us help you beat the stamp duty increase and start your new chapter in style.
