Miller Homes steps in with stamp duty pledge

Miller Homes is set to give first time buyers a major boost by paying their stamp duty on homes which reserve and complete by the end of January 2010.

The company, the UK’s largest privately owned housebuilder, is extending the stamp duty holiday for another month until 31st January 2010 on homes in selected plots worth up to £175,000 on specific developments throughout the East Midlands region. 

A small number of developments are also offering the holiday on properties above the £175,000 threshold.  For a property costing up to £175,000 the Miller Homes stamp duty holiday extension could result in a saving of £1,750.

The Stamp Duty holiday was introduced by the Government in September 2008 with the intention of helping first time buyers get onto the housing market and is due to end on the 31st December 2009 when it is expected that homebuyers paying up to £175,000 for their properties will once more have to pay 1 per cent of the purchase price to the Government in tax.

Joy Goodman, sales director at Miller Homes East Midlands, commented: “The stamp duty holiday has been a very successful scheme in terms of attracting buyers into the property market and onto the housing ladder.  The Miller Homes extension will enable even more first time buyers and renters to achieve their dream of owning a new home.”

However, Joy warned that time is running out. “Potential buyers need to act quickly to find their property and start the buying process. Realistically, to achieve the 31st January 2010 deadline, buyers must start the process in November 2009.”