First-time buyers rush to beat stamp duty deadline 🚫
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
In the Autumn Budget, Chancellor Rachel Reeves announced an increase to the amount of stamp duty home-movers and landlords in England will pay from the start of April next year... 💰
📍 Since September 2022, buyers of homes priced up to £250,000 have had an exemption from paying stamp duty
📍 This is set to revert to previous levels from April, when stamp duty will be payable on homes priced above £125,000
📍 You can see how much the current rates are and use our Stamp Duty Calculator here.
📍Rightmove is already seeing early signs of FTBs rushing to beat the April 2025 stamp duty deadline in more expensive areas
📍It currently takes an average of 5 months to complete a property transaction across the UK
📍This means that buyers hoping to find their next home and complete before the stamp duty deadline in April 2025, need to act quickly and hope to beat the average length of time to complete a home purchase
📍The amount of stamp duty tax you will need to pay depends on a wide range of factors, including: how much you pay for the property, the location of the property, whether you’re a UK resident, and whether you’re a first-time buyer. It also depends on whether you’re buying a main home, a holiday home or an investment property
📍Stamp duty tax is payable within two weeks of completing your sale (your solicitor should handle the paperwork for you)
For more information on how best to complete your property sale or purchase, contact Emma (emma.travers@cavendishproperty.co.uk) or use the form opposite ➡️
📸 Henry, Scott, Lisa, Emma and Joe at Cavendish Residential 📸
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#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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