If you’re mid-property purchase right now, you need to know about the upcoming stamp duty changes. Here’s your clear guide to what’s happening and what you need to do.
⏰ Important Dates: • Deadline: March 31st, 2025 (26 days remaining) • New rates begin: April 1st, 2025
💷 What You’ll Pay After April 1st:
Regular Home Buyers: • Current: No stamp duty on first £250,000 • After April: No stamp duty on first £125,000 • Real example: £300,000 purchase
- Complete before March 31st = £2,500
- Complete after April 1st = £5,000
- Potential extra cost = £2,500
First-Time Buyers: • Current: No stamp duty up to £425,000 • After April: No stamp duty up to £300,000 • Real example: £400,000 purchase
- Complete before March 31st = £0
- Complete after April 1st = £5,000
- Potential extra cost = £5,000
🎯 Your Urgent Action Plan:
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Chase Your Team (Set Weekly Reminders): • Solicitor for searches & enquiries progress • Estate agent for seller’s position • Me (your mortgage broker) for application updates
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Fast-Track Your Documents: • ID verification – send today • Proof of deposit – have statements ready • Mortgage paperwork – check your email • Solicitor’s forms – return within 24 hours
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Get Your Money Ready: • Ensure deposit is in accessible accounts • Plan for both stamp duty scenarios • Check bank transfer limits
⚠️ Important: While time is crucial, don’t skip essential surveys or legal checks. A rushed purchase could be costlier than extra stamp duty!
💰 Smart Financial Planning: Prepare two completion budgets:
- Pre-March 31st costs
- Post-April 1st costs (including higher stamp duty)
🤝 Need Urgent Support? As your mortgage broker, I can: • Calculate your exact stamp duty liability • Expedite your mortgage application • Keep your purchase on track • Ensure you’re properly protected
📞 Get Immediate Help: • Quick response guaranteed • Clear, straightforward advice • Flexible urgent appointments • Access to 100+ lenders
Worried about meeting the deadline? Message me now for a free, urgent consultation about your specific situation.
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