From April 2016 the Government will be reclassifying stamp duty land yax (SDLT) for anyone purchasing an additional property. If you’re a land owner or you’re looking to buy an additional property in England, Wales and Northern Ireland, you’re going to be paying a SDLT rate that’s 3% higher than the standard rate.

 

Who will be affected by this change?

If you own a second property, be it for a holiday home or as a buy-to-let you will be liable to these higher rates. If you’re replacing your main residence with a new property, but your previous main residence has not yet been sold, your transaction will also be subject to the higher rates. However, if your current main residence is sold within the next 18 months, you will be eligible for a refund.

 

It will only affect additional property purchases on or after 1st April 2016.

 

What are the new rates?

 

The stamp duty increase will be in line with the value of a property. If your second property is worth between £0 and £125k the proposed additional rates will be an additional 3%. For properties valued between £925,001 and £1.5m will be paying a 13% SDLT. To view all the proposed stamp duty changes, visit https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro

 

At this stage, these costs are only proposed as the final rules will be announced in the budget on 16th March 2016.

 

Are there any exemptions?

 

There are some properties that won’t fall under the stamp duty charges. They include caravans and houseboats, properties worth less than £40,000 and charities and registered social landlords. The government is also proposing to exempt corporates, funds and significant investors that own over 15 properties.

 

If you’d like to know more about the stamp duty rate changes or how this will affect you, get in touch with our team here http://www.morrisarmitage.co.uk/contact-us.php

We have seen the demand for properties across Cambridgeshire, Norfolk and Suffolk increase dramatically in recent months, which in turn has seen prices rocketing. For those of you that are thinking of selling or renting your property, an up-to-date valuation is a must.

To find out more information about property sales in your area, please contact your local Morris Armitage Office for our reputable advice and guidance. We offer a no obligation service that will give you the information you need to make informed decisions about the future of your home…

With the sun shining, the daffodils blooming and the days getting longer, more and more of you are looking for houses in our beautiful region this Spring. Over the past month, our quality buyers have significantly grown, so if you are thinking of placing your property on the market, now is the ideal time.

The rental and sales market is now in full swing and April has been a fantastic month for our team. Our Newmarket branch has sold 10 houses every single day this week, and this is expected to increase as the property market is predicted to improve in 2015.

Whether you are looking to buy, sell or rent, our local experts are just a call or click away for a free market appraisal.

As we head towards spring, the housing market remains strong with many buyers searching for their perfect properties. Always looking for new houses to meet the demand of these expectant buyers, Morris Armitage would like to hear from you if you’re considering selling your home.

With a free valuation service and a key positioning on a website that receives an incredible amount of traffic every month, we ensure your property stands out from the crowd, as well as providing you with top quality customer service.

Whether you’re looking to buy, sell or buy-to-let, our website has a huge range of advice and information. If you do decide to buy-to-let, our unique landlords portal will make the process simple, easy and an added benefit to your investment.

Call us today to receive personalised, professional advice: 01638 560 221

When it comes to selling your property, you need to find an estate agent that is right for you. One that will not only sell your property successfully, but also give you a fantastic customer experience by smoothly guiding you through the entire process.

The key to finding the right estate agent is to look for those with a depth of local knowledge, who can value your house correctly and fairly, and negotiate a sale from start to completion.

At Morris Armitage, we have a refreshing and incredibly focused approach to selling houses. Our team members are local people, whose knowledge of the area is unrivalled. Able to give you a free, no obligation valuation, we follow trends and marketing conditions to ensure you receive the best valuation possible.

Customer service is our top priority, with our success and growth built on giving our clients outstanding service levels throughout the selling process. We aim to make the sale as easy and as stress-free as we can, and ultimately get the results you want.

To find out more, go to our Selling Page… http://www.morrisarmitage.co.uk/page/selling.php

The festive season is fast approaching, but there is still time to move into your dream home before you celebrate Christmas.

Property prices are rising, making now the perfect time to invest. Indeed, greater consumer confidence and signs of economic recovery have helped the housing market to get back on its feet. With government schemes such as ‘Help to Buy’ being put in place, along with the increasing likelihood of banks approving a loan, the prospect of buying a property in the current market could not be more achievable.

So whether you are a first-time buyer looking to take your first step on the property ladder or on the hunt for the perfect family home, Morris Armitage have a fully qualified team of staff dedicated to providing expert advice on buying and selling, and making your moving process as smooth as possible.