7 Jan 2025
Stamp duty: how is it changing in 2025?
What is stamp duty?
Stamp Duty Land Tax (SDLT) is a tax charged in England, Wales, and Northern Ireland by the Government. The amount of tax you will be required to pay depends on the cost of the property, whether you will be living in the property, and whether you own any other properties.
You will be required to pay this tax if you:
- Purchase a freehold property
- Purchase a new or existing leasehold
- Take on a mortgage or buy a share in a house
- Purchase a property through a shared ownership scheme
How much will stamp duty cost?
Up until 31st March 2025, those purchasing a property under £250,000 will be exempt from having to pay stamp duty, first time buyers are not required to pay stamp duty for a property costing less than £425,000.
However, changes on stamp duty were announced during the August budget by Chancellor, Rachel Reeves. These higher thresholds will end on 31st March 2025 where they will go back to the previous levels set in the mini-budget in September 2022.
From 1st April 2025
First time buyers
£0 - £300,000 – no stamp duty due
£300,001 - £500,000 - 5% charged on the £300k+
£500,000 - you cannot claim relief
Residential property
£0 - £125,000 - no stamp duty due
£125,001 - £250,000 - 2% charged
£250,001 - £925,000 - 5% charged
£925,001 - £1.5 million - 10% charged
£1.5 million+ - 12% charged
Additional properties
You will usually be required to pay an additional 5% on top of stamp duty rates if you are buying another residential property.
Example:
You buy a house for £465,440 from April 2025
| Type | Stamp duty cost |
| First time buyer | £8,272 |
| Residential (moving home) | £13,272 |
| Additional property | £36,544 |
When do you need to pay stamp duty?
You will have two weeks to pay stamp duty from the date of completion.
If you would like to find out more, please feel free to give our experienced mortgage brokers a call on 01628 507477.
Recent posts
According to Nationwide Building Society’s latest House Price Index, house prices dropped 0.6% month on month in May – the first monthly decline this year.
Best UK Mortgage Rates this Week
5 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Most Affordable UK Spots for First-Time Buyers
14 days ago
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Halifax (part of Lloyds Banking Group) is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
Homeowners could be faced with paying over £3,000 more per year on their mortgage if the conflict in the Middle East continues, following new analysis from INTEREST from Moneyfacts.
Renters' Rights Act
28 Apr 2026
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Green Mortgages | Rewards and Benefits
28 Apr 2026
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
More information
Trusted by
