From April 1, 2025, new Stamp Duty Land Tax (SDLT) rates will apply across England and Northern Ireland, and for many buyers, this could mean higher costs when purchasing a home. If you’re considering moving do not delay as these changes will impact your budget. Here’s everything you need to know.
What’s Changing?
The new Stamp Duty rates for home purchases from 1st April 2025 (excluding first-time buyers) will be:
- Up to £125,000: 0%
- £125,001 to £250,000: 2% (currently 0%)
- £250,001 to £925,000: 5%
- £925,001 to £1.5 million: 10%
- Over £1.5 million: 12%
This means that properties worth more than £250,000 will incur higher SDLT costs, up-to £2500 more. For example, purchasing a home valued at £500,000 today incurs a Stamp Duty of £15,000. Under the 2025 rules, the cost rises to £17,500—an additional £2,500 in tax alone.
Why Make Your Move Now?
With the cost of moving already including fees for solicitors, surveys, removals, and potentially mortgage arrangement costs, the added burden of higher Stamp Duty can feel significant. Acting before these changes could save you money to reinvest elsewhere—whether it’s furnishing your new home or covering a holiday to celebrate the move!
Did You Know?
The average cost of moving house in the UK (excluding Stamp Duty) is estimated at around £12,000. This includes costs like removal companies, legal fees, and estate agent commissions. A saving on Stamp Duty could significantly offset these expenses, making it more affordable to move sooner rather than later.
Make Your Move with Kendrick Homes
Purchasing a home now allows you to lock in current Stamp Duty rates while benefiting from our premium new-build properties. Our sales team is ready to guide you through the process and help you make the most of these savings. Contact us today to find your dream home—and save before the April 2025 changes take effect.
Time is of the Essence
To benefit from current Stamp Duty rates, your home must be completed by April 1, 2025. But with the average UK home taking 70 days to sell and 16+ weeks to exchange and complete (Rightmove.co.uk), time is running out to finalise your purchase. Starting the process now is critical to beating the deadline.
Beat the Stamp Duty Stampede!
The closer we get to April 2025, the busier the housing market will become. Acting now ensures you not only avoid delays but also secure the best deals on new-build homes. Kendrick Homes offers a range of exclusive properties ready to move into, perfect for making your next move stress-free and cost-effective.
Don’t wait for the tax changes to impact your finances—contact Kendrick Homes today to explore your options and secure your dream home at the best possible price. With homes ready to move into on developments in Shrewsbury, Coventry, Welford on Avon and Princes Risborough, now is the perfect time to reserve your new Kendrick Home!
