House Builder Extends Stamp Duty Freeze Until June

House builder Bovis Homes will be extending the stamp duty tax freeze with the Government’s impending stamp duty freeze ending on 24th March 2012.


The extended stamp duty tax freeze will be offered on all of Bovis’ new homes across the UK until June 2012. The freeze implemented by the UK Government has meant that first time buyers have saved 1% duty tax on properties valued between £125,000 and £250,000.

Bovis Homes are extending the stamp duty freeze to all buyers of their new homes in Birmingham and new homes in Cambridgeshire valued between £125,000 and £250,000, including those who are not first time buyers. Bovis Homes also build new developments in Suffolk and new homes for sale in Norfolk. The house builder will pay the stamp duty on home sales completed by the end of June 2012.

"The holiday has clearly proved popular with first-time buyers and we have had a surge of interest from them at the start of 2012," said Bovis Homes’ marketing director Kevin Wilkins. "However, for some of them the Government's deadline has come too early so we've decided to help out with this scheme that offers to pay their stamp duty on properties in the same price bracket if they complete their purchase on a Bovis Home by June 30.

Bovis Homes offer a number of other initiatives to make it easier for first time buyers to get onto the property ladder. They launched a FirstBuy scheme where buyers can put down a 5% deposit with a 75% loan to value mortgage. The additional 20% property loan is covered by an equity loan that is funded by the Government and Bovis Homes.

Other initiatives offered by the house builder include low deposit schemes, help with legal fees and buyers paying 85% of the initial price of a property. These schemes are available on all of their properties including new homes in Lincolnshire and new homes in Bristol.

Notes to Editors:
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Original Source: House Builder Extends Stamp Duty Freeze Until June