First time buyer? Find your first home now to save thousands on Stamp Duty
From March 2025 the discounted Stamp Duty for first time buyers expires. With the average process of buying a home taking 12 weeks, you need to secure your home now!
At the moment, buyers of homes worth less than £250,000 don't pay stamp duty. This was doubled from £125,000 under Liz Truss's mini-Budget in September 2022.
The threshold is £425,000 for those buying their first property. This was raised from £300,000 as part of the mini-Budget.
These higher thresholds will end in March 2025, when they will revert to previous levels.
To make the most of the discounts, it is critical to secure a property before Christmas with solicitors instructed.
If you have any questions regarding this or other property related matters, contact our Sales Director, David Long on 01932 232927 or david@newboulds.com