STAMP DUTY CHANGES
As you may have heard, the recent changes in stamp duty could have a significant impact on your next move. Whether you're a first-time buyer stepping onto the property ladder or a current homeowner looking to move up, we’re here to help you navigate how these changes could benefit you.
For property transactions completed after 31 March 2025, here’s what the SDLT rates will look like for main residences:
Property Value SDLT Rate on Main Residence
Up to £125,000 0%
£125,001 to £250,000 2%
£250,001 to £925,000 5%
£925,001 to £1.5 million 10%
Over £1.5 million 12%
First-Time Buyers: Changes to Relief Thresholds
The autumn budget will also impact first-time buyers by reducing the SDLT relief thresholds. From 31 March 2025, the relief threshold will return to its previous level of £300,000, down from the current £425,000. For those purchasing their first home, the SDLT rates after this date will be as follows:
Property Value SDLT Rate for First-Time Buyers
Up to £300,000 0%
£300,001 to £500,000 5%
For example, if you’re a first-time buyer purchasing a property priced at £350,000 after March 2025, you’ll pay SDLT of £2,500, whereas under the current threshold, this purchase would incur no SDLT. This change means first-time buyers will need to factor in additional SDLT costs for properties above £300,000 after the threshold reverts.
Please take a look at our new homes in the South West and speak to our Sales Executive to secure your dream home before the stamp duty changes.