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Why now has never been a better time to buy new

10.09.20

The last few months have offered a fresh opportunity for homeowners to think about what’s important to them in their home – and for many, this has prompted a property search. Following the re-opening of the UK property market in May, there has been a marked interest from prospective buyers keen to find a new home and maximise the great range of options and schemes on offer to support the industry in getting the nation moving again.

Here, prestigious home counties developer, Millgate, rounds up its top reasons on why now is a good time to buy, and why it’s an even better time to buy new.

  1. Stamp Duty Holiday

The introduction of the recent Stamp Duty Holiday means all properties worth up to £500,000 and below are now exempt from the buyers’ tax until next March. Homes priced over this threshold will also benefit from the saving, as no tax will be paid on the first £500,000. With a potential saving of up to £15,000 it’s no wonder that 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.

  1. Help to Buy Equity Loan

Millgate has a range of properties available with Help to Buy, allowing buyers 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. To benefit from the scheme, the property you are purchasing has to be completed by 31st December 2020. However, there are plans from UK ministers to extend the Help to Buy government scheme beyond its deadline to prevent buyers losing out due to Covid-19.

  1. Interest rates

Lockdown has meant far more time at home – meaning more time to search around for the right mortgage deal. Interest rates are at an all-time low with some deals offering 0.5%.

  1. The ultimate in convenience and comfort

Each Millgate home is designed and finished to the highest standard and finest quality, inside and out – with every element box-fresh, you can put your stamp on your new home without the worry of expensive renovations or works to be done. Plus, Millgate homes are built to the latest industry standards and have a 10-year National House Building Council warranty, ensuring even more peace of mind.

Whether you are a first-time buyer or already own your own home, Millgate can guide you through every step of the buying process - from finalising your deposit to our tailor-made incentives. Find out more today about their range of developments here: www.millgatehomes.co.uk/new-homes

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