NewBuy Guarantee Scheme
The Government has announced its intention to launch the NewBuy Guarantee Scheme in March 2012.
This is a scheme for UK citizens who are looking to buy a new build property as their main home up to a purchase price of £500,000. It is not just limited to first time buyers. Under the terms of the scheme a purchase deposit could be as low as 5% of the purchase price meaning that on a purchase price of £120,000, the required deposit could be as little as £6,000.
Wards already deal with purchasers buying property from National and Local House Builders with the assistance of the existing developer incentives and government schemes available and we are looking forward to assisting purchasers under the new scheme that has been announced.
As a final word we would remind First Time Buyers that the current Stamp Duty Land Tax relief ends on 24th March 2012.
If you would like further information then please contact Liz Pople at our Staple Hill Office.