Boutique developer Aitch Group is offering buyers a double stamp duty saving worth up to £30,000 on homes in Hoxton
Boutique developer Aitch Group is offering buyers a double stamp duty saving worth up to £30,000 on homes at their schemes Eagle Wharf Road in Hoxton, London, and The Old School House in Chobham, Surrey – as aligned with the Chancellor’s extension of the tax holiday announced today in the Spring Budget 2021.
As part of the national effort to stimulate the economy and the housing market during the Covid-19 pandemic, and as part of the ongoing push to help first-time buyers get on the property ladder, the South East and London specialist Aitch Group will match Rishi Sunak’s Stamp Duty saving.
The Chancellor, reacting favourably to extensive lobbying by the property industry on behalf of prospective buyers, today confirmed the rumours that he will extend the Stamp Duty holiday for another three months.
The tax break has boosted home sales across the UK and prevented a collapse in the property market since it was introduced last July in his emergency Summer Statement, but was due to end on 31 March 2021. In order to prevent a decline in transactions this deadline has been lengthened to the end of June 2021.
As a result, buyers will not pay any Stamp Duty on the first £500,000 of their new homes at the Aitch Group’s Eagle Wharf Road in Hoxton, London, and The Old School House in Chobham, Surrey, but in addition the developer is matching the amount that it would have cost as a further incentive. Above the £500,000 threshold this equates to a £15,000 saving in Stamp Duty and therefore a further £15,000 saving thanks to Aitch Group matching the tax handout. This provides buyers with a double Stamp Duty saving on their new home, the offer applying to properties that will legally complete before, or by the end of June 2021.
Henry Smith, Chief Executive Officer of Aitch Group, says: “We welcome the extension in its fairness as it addresses the fact that the conveyancing and property transaction system were overwhelmed by the wave of demand that hit after the first national lockdown, and kept on coming. This has created a backlog of transactions, many of which will have been delayed and could have unfairly missed the original deadline.
“However, we want to help oil the wheels further for buyers during this lengthy period of financial instability by offering a double stamp duty saving until the end of the extension,” he continues.
“When the time comes to end the extension we hope that the Chancellor will consider a way to taper off the Stamp Duty holiday, bringing the saving down gradually to ensure that there is no a cliff edge of transactions and the country can continue to feel the positive economic impact that is generated by the house moving industry that is so vitally important at this time,” Mr Smith concludes.
The substantial double Stamp Duty discount is available on the final two apartments at Aitch Group’s Eagle Wharf Road development in Hoxton, next to Shoreditch Park.
There are just two homes remaining at this scheme which has so far appealed to young professionals who work in the City due to its location, which is walkable to Liverpool Street and the historic banking district beyond.
All the apartments at Eagle Wharf Road have timber flooring throughout the hallways, living rooms, kitchens, dining rooms and bedrooms, with large critall windows creating a warehouse-style atmosphere. Contemporary black nickel switches, sockets and door ironmongery complement both apartment’s painted walls and ceilings.
The luxurious interiors were created by Studio Iro, an interior design company who focused on natural materials, a muted colour palette and contemporary art and furniture.
Residents of Eagle Wharf Road will benefit from the rich mix of history, culture, tech and creativity that Hoxton has to offer. One of London’s most vibrant neighbourhoods, Hoxton is home to a wonderful mix of start-ups, street artists, FinTech entrepreneurs and financiers, with Shoreditch, Dalston and De Beauvoir Town moments away. Hoxton has an array of bars, restaurants and museums for residents to enjoy.
Eagle Wharf Road also provides excellent transport links, with residents a 14-minute walk from Old Street station and Angel station, an 18-minute walk from Hoxton station, a 25 -minute walk from Moorgate station and a 27-minute walk from Liverpool Street station.
Buyers of new homes at the leafy scheme The Old School House in Chobham, Surrey, will also benefit from the double Stamp Duty saving.
The 14-house private gated development is nestled in one of Surrey’s prettiest villages and appeals to those upsizing in the country or making the move out of London for more space and a rural lifestyle, but with easy and fast access to the capital. It’s the perfect situation for the new office-home commuting balance that will emerge after the pandemic.
The detached and attached family homes are set along leafy streets to emulate the archetypal English village in three-acres of lovingly-nurtured gardens, with tennis courts. However, city-like convenience is available too with a concierge on-site.
The Old School House development has been sympathetically woven into the village of Chobham, in north west Surrey, which has an historic centre and plenty of listed buildings. The 1,500-acre Chobham Common to the north of the village is a National Nature Reserve.
Trains run from nearby Woking (seven minutes from Chobham by car) to London Waterloo in less than 30 minutes.