Retirees looking to move could avoid the upcoming stamp duty increase set for April 1.
A new initiative could see a major provider pay up to £12,000 in stamp duty charges for those purchasing a new home.
McCarthy Stone has launched a new initiative to help retirees avoid the upcoming stamp duty increase set for April 1.
This offer comes as the stamp duty land tax threshold is due to return to £125,000 from the current £250,000 level.
The scheme aims to make downsizing more affordable for older generations facing financial pressures.
It will also benefit younger homebuyers by freeing up much-needed housing stock in the market.
McCarthy Stone estimates the offer will completely cover stamp duty charges
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The initiative helps retirees who want to downsize but are held back by high costs. To qualify for the stamp duty payment, buyers need to finalise their purchase by the end of July this year.
McCarthy Stone estimates the offer will completely cover stamp duty charges for the vast majority of its latest Retirement Living and Retirement Living PLUS developments.
The company has retirement communities across the country, designed to support independent living without compromising on lifestyle or social opportunities.
McCarthy Stone also provides support services to make the moving process easier for retirees who may be concerned about leaving their family home.
The initiative is available at numerous developments nationwide, giving retirees a wide range of locations to choose from.
John Tonkiss, the Chief Executive Officer of McCarthy Stone said: “Many customers tell us they have been considering downsizing for some time but that it can be a wrench leaving the family home. The rising cost of moving has also become a barrier.
“These typically larger, older homes can be costly to run and a burden to maintain, so this offer aims to support those who want to move now, helping them to beat the pending stamp duty rise and move to a property that better suits their needs.”
The company recognises that moving to an age-exclusive development represents a significant lifestyle change for many.
Their approach ensures homeowners can maintain independence while enjoying community benefits.
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The offer includes developments such as Scoresby View in Whitby, where apartments start from £209,950. Jacob Place in Saffron Walden offers homes from £270,000.
May Tree Place in Southampton features properties starting from £250,000. The promotion extends to homes available through the Shared Ownership scheme, operated in partnership with Homes England.
This scheme allows retirees to enjoy retirement living benefits without committing to the full purchase price. Each McCarthy Stone development is located in sought-after areas across the UK.
The communities are designed to be friendly and supportive with helpful on-site staff. All homes are cleverly designed to make life easier both now and in the future.
This scheme allows retirees to enjoy retirement living benefits without committing to the full purchase price
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This approach provides the perfect environment for retirees to enjoy their preferred lifestyle and activities. The retirement communities offer a range of benefits designed specifically for later life.
With the stamp duty offer, retirees have a timely opportunity to make a financially advantageous move.
The initiative provides a practical solution for those looking to downsize before the April tax threshold change.