Avoid paying thousands more in stamp duty. Big changes to stamp duty are coming in April 2025, and they could add thousands to the cost of buying a home. There’s still time, for those eyeing a move for 2025, to take advantage of the lower costs under the current system.
Delaying could mean significantly higher upfront costs – money that could be better spent elsewhere!
Stamp Duty changes from April 2025
In her October 2024 budget, Chancellor Rachel Reeves announced that from April 2025:
- The stamp duty exemption threshold for first-time buyers will drop from £425,000 to £300,000, increasing costs for homes above this price.
- The general threshold for home movers will fall from £250,000 to £125,000. This means most buyers will face stamp duty on a larger portion of their purchase.
Differences in costs before and after April 2025
A buyer purchasing a £485,000, three bedroom detached, zero carbon home at Court de Wyck in Claverham will face the following differences in costs before and after April 2025:
- Under the current system, a first-time buyer purchasing a £485,000 home pays £3,000 in stamp duty. From April 2025, they would pay £9,250—an increase of £6,250.
- For home movers, the current stamp duty on a £485,000 property is £11,750. With the new rules coming into play, this would increase to £14,250, adding £2,500 to the bill.
“We know that every bit of financial breathing room counts” says Marcus Evans, Sales and Marketing Director at Newland Homes. “With these changes coming, now’s the time to buy if you’re ready. Think of what you could do with that extra money . Whether it’s furnishing your dream home or taking a family holiday. Why let that money go to tax when it could go towards making your new house a home?”
Schemes to help get you moving
The upcoming changes are a reminder to act today. By securing your new home now which will be ready for you to move into before the changes come into effect in April 2025, you can avoid the additional costs and make the most of the current, more favourable stamp duty taxes. Newland Homes offers several schemes to help get you moving, whatever your situation. If you have a house to sell, we can offer part exchange on selected homes and Movemaker to help sell a current home.
“We recommend speaking to a New Homes Mortgage Specialist and getting the right support to ensure you’re making the most of the current stamp duty rates” continues Marcus.
Cutting-edge environmental design
There are a range of homes available for legal completion before 31 March 2025 (the latest date to attract the stamp duty levels before the changes come in to effect).
In a significant shift towards providing zero carbon homes, each property is also powered with renewable energy (except low carbon homes at Heron Rise). This includes solar PV and an air source heat pump with underfloor heating to the ground floor. An EV charging point and advanced insulation are also provided to achieve zero carbon living. Zero carbon homes are EPC ‘A’ rated for both environmental impact and energy efficiency, meaning lower running costs.
To book a tailor-made appointment to view the new homes at any of the developments above before the stamp duty changes, find a home here or click the individual development links above. Tailor made viewings are available daily, from 11am to 5pm. For further information please click here or follow Newland Homes on social media @newlandhomes
Newland Homes Limited is a property developer registered in England and Wales number 2582221.
Registered office: Brighouse Court, Barnett Way, Barnwood, Gloucester, GL4 3RT.
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