News from Garside Waddingham

29th June, 2007

Garside Waddingham boasts the most up to date estate agents office in a flagship location right in the city centre of Preston. Offering the same computer systems as our other branches, the city office is in direct contact with them and all are updated along with this and other website virtually instantaneously. It is so true to say that when you instruct one Garside Waddingham branch, you instruct them all.

Four huge LCD screens set out properties on our register in glorious large scale colour and allow potentially interested house seekers to relax, view our selection of fine houses in all brackets, without thumbing through pages of irrelevant verbose description - it is certainly true that, at Garside Waddingham one picture is definitely worth a thousand words.

Selection made? ...then our specially trained staff can produce a personalised brochure for you to take way and browse at your leisure. And, if you are thinking of instructing Garside Waddingham remember that your property will be displayed in the most prestigious and modern office in the city - ample car parking nearby and a personalised selection procedure second to none. All this plus our own website, which you are now visiting, and inclusion on the UK's most comprehensive property portal rightmove.co.uk.

CAN ANY OTHER LOCAL PROPERTY AGENT OFFER ALL THIS?

29th June, 2007

This is the biggest single cost you will incur while moving house, and unfortunately cannot be reduced or got rid of. This is a tax which is paid by the buyer to the government, just for buying the house. Stamp duty land tax rates have increased by four times since the current government came into parliament in 1997, and the last increase was in 2000.

• For properties less than £125,000 the tax does not have to be paid.
• For properties which sell for between £125,000 and £250,000 the tax is 1% of the selling price.
• For properties which sell for more than £250,000 the tax is 3% of the selling price.
• For properties which sell for more than £500,000 the tax is 4% of the selling price.

There used to be a loophole in the system which meant that the buyer could reduce the stamp duty tax they had to pay, by paying over the odds for fittings and fixtures. However, on 1 December 2006 new guidelines were brought in to try and prevent tax evasion, and this method is now no longer possible. Under these new rules extensive forms have to be completed, and the Inland Revenue has threatened that it will be conducting numerous random checks on houses which fall just below the cut-off line, to check that everything is in correct order.

A few years ago, an exemption order was introduced by Gordon Brown to try and help regeneration in certain areas. There are "designated disadvantaged areas" within the UK, and in these areas if you buy a house which costs less than £150,000 you will be exempt from paying stamp duty land tax. To find out which areas are in these "designated disadvantaged areas" look on the Inland Revenue website. Your estate agent should also be aware of whether the house you are interested in buying is in one of the areas. However, the areas are very specific and can vary street to street so it is best to check directly with the Inland Revenue as well.