Buying guide

Joscelyne Chase has been helping people move (in one way or another) since 1777. Our professional team is able to help you find your perfect home in Braintree and the surrounding areas, answer any questions you have about the buying process, and be there for support along the way.

Buying Process

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Stamp duty changes

Changes to Stamp Duty came into effect in December 2014 and for 98% of purchases, will help you save money. See the table below for the latest:

Purchase price of property New rates paid on the part of the property withing each tax band
Up to £125,000 0%
£125,001 - £250,000 2%
£250,001 - £925,000 5%
£925,001 - £1,500,000 10%
£1,500,001 and over 12%

Example property:

Property in Braintree

Chelmsford Road, Felsted: On the market for £290,000. Under the new rules the amount of stamp duty you will pay is £4,500, much better than the previous figure of £8,700!

How did we work this out? No stamp duty up to £125,000. There is £125,000 of the property that will be charged at the 2% bracket which gives you £2,500. Then the remaining £40,000 of the properties price is then charged at 5%; an additional £2,000 to bring a total of £4,500.

Your solicitor or conveyancer will work out the stamp duty you have to pay, but you can use the HMRC calculator which will work out for you exactly how much stamp duty you will pay under the new rules.

Be a good buyer

Here are some hints and tips to what you can do to help speed up the process:

  • Know what you can afford before you start looking – Speak to a mortgage adviser and if applicable, get an idea on what your property is worth
  • Once you find a property you like and an offer has been accepted, arrange to get a ‘Decision in Principle’ from your mortgage adviser, and if applicable, book in your building survey straight away
  • Keep in contact with your solicitors, this helps to ensure that progress is maintained
  • Be aware that you will likely be part of a chain