First-Time Buyers will pay an extra Ā£3,675 in Stamp Duty from April 2025š°
šø Lead image SOLD SSTC by Cavendish Residential: Stunning one bedroom apartment located in the exclusive development of Linby House | Guide Price Ā£190,000 šø
From April 2025, current Ā£425k level of stamp duty-free relief is set to reduce to Ā£300k ā¬ļø
šø Keeping stamp duty relief at Ā£425k next April would certainly help to support First-Time Buyers (FTBs)
šø Temporary stamp duty relief has been in place for FTBs since September 2022
šø Currently, FTBs won't pay any stamp duty tax on a property priced up to Ā£425,000
šø That's more than half (58%) of homes for sale in England (though it varies significantly by region)
šø From April 2025, stamp duty tax will be payable when buying a home priced at Ā£300,000 or above
šø The 58% of property will fall to 37% = a reduction of -21%
šāāļø So, how would 2025 stamp duty changes impact FTBs across the country?
To work out how much stamp duty you need to pay, use Rightmove's online calculator here š§®
For more information on how to buy a property, contact Emma at our offices (emma.travers@cavendishproperty.co.uk) š§
šø Emma Travers: Head of Sales, Lettings and Investments at Cavendish Residential šø
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