A valuable incentive sweetens the deal

Large scale developers are adroit at offering incentives to tempt buyers thinking of purchasing a new home, even at the more expensive end of the market.

The rates of Land and Buildings Transaction Tax (LBTT), introduced in Scotland in 2015, have proved to be something of an inhibiting factor for buyers at the top end.

Certainly since the new tax replaced Stamp Duty, rates of sales of more expensive properties have fallen as some buyers found the sizeable lump sum handed over to the taxman on completion off-putting.

When buying a brand new property however, help is available with some developers offering to soften the blow by covering some or all of the costs of LBTT.

CALA Homes (East) has a time limited offer this month, covering the entire cost of the tax, at a number of its developments across Edinburgh, Midlothian and East Lothian, but only on reservations made by January 31st.

Philip Hogg, sales and marketing director at CALA believes that the incentive will attract buyers who have been put off making a move by the level of LBTT.

He says: “The tax can require large cash reserves and can even put