A housebuilder is offering homebuyers in the east of Scotland the chance to buy a home without having to pay the full Land and Buildings Transaction Tax (LBTT).
In many cases, CALA Homes (East) is even covering the entire cost of the tax applied to the purchase of a home, at a number of its developments across Edinburgh, Midlothian and East Lothian – on reservations made by January 31st.
LBTT replaced Stamp Duty Land Tax in Scotland in 2015, and is a tax applied to residential land and buildings transactions over £145,000 (when the property purchased is your only home). Recent changes in tax-bands mean that £13,350 is now due for a house bought for £400,000, for example.
CALA said its ‘Life Less Taxing’ offer aims to allow homebuyers to make their dream move with more certainty and without added financial stress.
Philip Hogg, sales and marketing director at CALA Homes (East), said: “We fully understand that a house move can be stressful with many upfront costs to take into account.
“The tax can require large cash reserves and can even put a move back months if not years, or possibly make it unaffordable altogether.
“This kind of support is not available in the second hand market so we’d encourage potential purchasers to find out how CALA can help make their dream move possible.
“At this moment we have an especially wide range of luxury developments throughout the region appealing to downsizers, young professionals and busy families alike.”
Last year Mactaggart & Mickel Homes said it will pay the LBTT for first-time buyers purchasing homes priced at up to £300,000 until the end of April 2018.