17 Mar 2025
Stamp Duty Rush as Deadline Looms
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.
Unfortunately, around 74,000 homebuyers are unlikely to make the deadline Rightmove reports. Those who complete the homebuying process after 31st March face additional tax costs, some paying more than £11,000 than if completion took place before the threshold changes.
Asking prices for homes that have come to market in March have increased by 1.1%. This is in line with historical trends for March as it is typically one of the most popular months for sellers.
25,000 first-time buyers are estimated to miss the Stamp Duty deadline incurring approximately £142 million in additional tax costs.
It’s not all negative news as the housing market still remains steady despite the worries about the upcoming tax changes. Rightmove has shared that sales agreed are 9% up compared to this time last year, and property listings have grown by 8%.
Recent posts
The chancellor has advised that landlords could have another tax to pay this autumn as the Treasury decide whether to extend national insurance contributions to rental income.
According to a report in the Guardian, senior ministers have asked Treasury officials to look into a “proportional” property tax to see how it would work as an alternative to the existing stamp duty land tax on owner-occupied homes.
More than a quarter of UK adults in long-term relationships (26%) have reported that despite living together, they keep their finances separate from one another.
There has been a rise in both rent and mortgage costs over the last three years, with renters seeing a greater increase in their monthly payments than those with a mortgaged property.
Delayed Start Mortgages
23 days ago
The new Delayed Start Mortgage launched by Skipton Building Society allows first time buyers to postpone the first three mortgage payments. This product has been designed to help soften the blow of moving in costs for first time buyers.
Green Mortgages | Rewards and Benefits
25 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
25 Jul 2025
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
More information
Trusted by
