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Monthly archive for July 2019

Stamp Duty Could Be Switched From Buyer To Seller With Boris Johnson

Stamp Duty Could Be Switched From Buyer To Seller With Boris Johnson

It has been reported that some major changes to the way that properties are taxed could come into play with Boris Johnson as Prime Minister. 

Prime Minister Boris Johnson has revealed that he plans to abolish the tax altogether on properties below the value of £500,000. He has also met with AAT, the Association of Accounting Technicians to discuss more radical ideas for home sellers.

Boris Johnson feels that the housing market is locked because the high stamp duty costs put buyers off. Based on this he plans to cut these high stamp duty costs for the buyer. It has also been discussed that he may pass this tax onto the seller of the home, instead of the buyer. This would be a unique way of cutting stamp duty costs for first time buyers, without it affecting the government. It would also make it more possible for buyers to upsize their homes as the tax bill would be lower and they could afford a larger, more expensive property.

It is reported that this could save the taxpayer around £700m as the First Time Buyer Relief would become redundant. However it would still protect the £9 billion of revenue that stamp duty generates as this would still be paid in full, just by different people. In this case the seller and not the buyer.

However, it is not great news for everyone. Those people looking to downsize their homes will be left having to pay more. In fact their stamp duty bill could be significantly higher. AAT argues that in the majority of cases downsizers will have little or no mortgage to pay and will have significant equity. AAT feels that these homeowners are better placed to pay that little extra, unlike first time buyers who are often in the younger generation.

If you are looking to sell your home or buy a home then contact us directly. We have a wide selection of homes and buyers on our books and can help you with any changes as and when they arise in the process of buying or selling your home.

Top 44th Estate Agent In The UK

Top 44th Estate Agent In The UK

The Letters Group team are thrilled to announce that we are in the Top 50 for Top 100 Firms in the UK as reported by allAgents.co.uk. In fact better than just being in the Top 50, we are actually 44th this week out of all the letting agents and estate agents across the UK.

Here at Letters Group we work hard to make our clients happy. Whether they are renting or selling their home or looking for a home to rent or buy.

Unlike other agents we don’t just send numerous people round to look at homes. Instead we speak to the buyer or renter to understand the sort of home they are looking for. We won’t send them to homes that aren’t suitable for them, just so the seller or landlord has appointments. That won’t help anyone. Instead we find the right people for the right homes. 

We also take the time to get to know our landlords and sellers. We will speak to them about their property. As property experts in Peterborough we can then recommend small changes they can make to the property to add value or to get it sold or rented quicker.

As you will see from our blog posts and social media posts, we work really hard to help people that are buying, selling or renting in Peterborough. We share tips, guidance, advice and latest news. We know that buying and selling a house can be stressful. This is why we do everything we can to take away as much stress as possible.

And this seems to work. You don’t come 44th top agent in the UK by not offering a great service. We have some really great testimonials and reviews from people that have bought houses, sold houses and rented through us in the past to say how happy they were with our service.

If you’d like to sell or buy your home with an estate agent in Peterborough that is in the top 50 in the UK then give us a call. We would love to hear about your home and dream home.