Last year’s Government changes to stamp duty has saved homebuyers more than £280,000 according to local house builder Barratt Homes. A year on from the change, which was designed to reduce the level of tax paid by homebuyers, a family buying a brand new home in the Arun District Council area saved on average £4,956 before purchase.
“Buying a new home is one of the biggest financial commitments that they will make and it’s fantastic that these simple changes have saved our homebuyers in Arundel, Bognor Regis and Littlehampton so much money since the start of the year,” says Gary Ennis, Southern Regional Managing Director for Barratt Developments.
“The new system means that homebuyers of a typical property with Barratt Homes worth £280,000 will now pay £4,400 less in stamp duty. This is money that can be put towards the deposit for their new house, spent on new furniture or used for something else entirely.”