Mactaggart & Mickel Homes to pay LBTT for first-time buyers

MACTAGGART & Mickel Homes have announced they will pay Land and Buildings Transaction Tax (LBTT), the Scottish equivalent of stamp duty, for first-time buyers on homes priced up to £300,000.

The housebuilder made the move in response to ​the UK Government’s budget announcement to abolish stamp duty on homes up to £300,000 in England and Wales for first-time buyers.

A first-time buyer in Scotland can currently expect to pay £4,600 of LBTT on a property bought for £300,000.

Director Joanne Casey said, “Although the Scottish budget won’t be revealed until mid-December, we have taken the decision to act immediately and pay the LBTT for first-time buyers on homes priced up to £300,000.

Joanne Casey

“This will help more first-time buyers get a foot on the property ladder, by saving them up to £4,600 when buying a Mactaggart & Mickel home.”

The offer is not available in conjunction with Help to Buy as rules do not permit cash incentives.