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
We look at how to get the best Buy to Let mortgage rate, what's in store going forward, and options as a landlord with increasing costs.
UK mortgage rates following Trump’s Tariffs
9 days ago
Throughout this past week, lenders have continued to reduce their mortgage rates giving borrowers in the UK some welcome news following the change in global tariffs under US President, Donald Trump.
Effective ways to relieve stress
9 days ago
Did you know that buying a house, or relocating is in the top 10 most stressful life events?
Stress of course is an unavoidable part of life and there are many reasons why people experience stress, not just buying a house!
There are lots of effective ways to manage and reduce stress, check out our tips to help you.
The most inexpensive areas for first time buyers
22 days ago
With the stamp duty relief ending in England and Northern Ireland, we have listed the top 10 cheapest areas for first-time buyers as published by Rightmove.
Tips to help you get onto the property ladder
22 days ago
Are you looking to purchase your first home but unsure where to begin? Here are some tips to get you started.
Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.
Best UK Mortgage Rates this Week
18 Mar 2025
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.
Stamp Duty Rush as Deadline Looms
17 Mar 2025
According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.
More information
Trusted by
