Contact us
About us
At Good Life Homes, we have a simple business approach:
"To treat all clients in the manner we would like to be treated ourselves".
Market Reports
August 29, 2024
A breakdown of the changes to Land Transaction Tax in Wales
Recently, Finance Minister, Rebecca Evans, announced the new temporary changes to Land Transaction Tax (LTT) in Wales. As of 27 July 2020, any properties valued up to £250,000 will require no LTT to be paid. These changes will apply and run up until 31 March 2021.
New temporary changes explained
Prior to 27 July 2020, there is no tax payable on properties in Wales valued up to £180,000. The Government will now extend this threshold to £250,000. The rates then increase to 5% up to the property value of £400,000, 7.5% up to £750,000, 10% up to £1,500,000 with any amount thereafter taxed at 12%.
Visit gov.wales for more information
Second homes and buy-to-let investments
A 4% surcharge applies to all transactions on or after 22 December 2020, involving the purchase of an additional property. This includes second homes and buy-to-let investments. The surcharge applies to the full purchase price above an initial threshold of £40,000.
Visit gov.wales for more information
If you are replacing your main residence, the higher rates may not apply.
Specific first-time buyer relief is not currently available under the LTT system.
Find out how much LTT you will need to pay on your new home via our Online Calculator.
If you are looking to buy or sell your home today, contact your local Guild Member today.
Winter 2024 UK Property Market Report: Optimistic outlook
Regional Property Market Update Winter 2024: North West
Regional Property Market Update Winter 2024: Devon and Cornwall
Regional Property Market Update Winter 2024: Southern Home Counties
2022 © Good Life. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | CMP Certificate | Complaints Procedure
Good Life Homes (North East) Ltd. Registered in England & Wales. Company No: 11734590. Registered Office Address: Good Life House, 46 Windsor Terrace, Sunderland, SR2 9QF. Trading As: Good Life Homes