First-time buyers rush to beat stamp duty deadline

Caz Blake-Symes • December 12, 2024


Adapted from a Rightmove Property news article 3 December2024

In the Autumn Budget, Chancellor Rachel Reeves announced an increase to the amount of stamp duty home-movers and landlords in England will pay from the start of April next year.


Since September 2022, buyers of homes priced up to £250,000 have had an exemption from paying stamp duty. This is set to revert to previous levels from April, when stamp duty will be payable on homes priced above £125,000.


The threshold has also been raised for first-time buyers since 2022, with no stamp duty payable on homes priced up to £425,000. For homes priced above £425,000, first-time buyers currently pay 5% on the amount up to £625,000. If the home is priced above £625,000, the first-time buyers’ relief doesn’t apply. From April, the threshold will revert back to £300,000.


Buyers rush to beat the deadline

We’re already seeing early signs of first-time buyers rushing to beat the April 2025 stamp duty deadline in more expensive areas.


Rightmove’s property expert, Tim Bannister, says: “With stamp duty thresholds in England lowering from April, we’re seeing early signs of first-time buyers reacting. In London and higher-priced areas, where first-time buyers are most likely to be affected, we’re seeing some pull forward their plans to try and avoid higher charges.


“In most other areas of England, which have a greater availability of stamp duty-free homes for first-time buyers, we’re seeing the opposite trend of some first-time buyers taking a pause for breath with no further help announced in the Autumn Budget. However, the long-awaited second Bank Rate cut should hopefully boost optimism amongst movers and help to improve affordability during 2025,” he adds.


Rising stamp duty charges are likely to have less impact in areas where there is already a wide availability of homes below the £300,000 threshold. More widely, there was little market support announced in the Budget to help first-time buyers, which could be contributing to some pulling back.


How long is it taking to buy a home?

It currently takes an average of 5 months (151 days) to complete a property transaction across Great Britain. This means that first-time buyers hoping to find their next home and complete before the stamp duty deadline in April 2025, need to act quickly and hope to beat the average length of time to complete a home purchase.


Contact Us

Regardless of your circumstances or specific needs, please click on the links below and we will be delighted to help.

For further details about the mortgage and protection products we offer as a fully independent mortgage broker, or any other mortgage information, book your FREE CONSULTATION with one of our expert Mortgage and Protection Advisers.


Bristol Mortgages Online     Weston Mortgages Online    Bath Mortgages Online      Exeter Mortgages Online 

 

18 Years, Thousands of Keys, and One Vision: Celebrating Phil Clark’s Journey with Bristol Mortgages Online

By Caz Blake-Symes • June 15, 2026
If there is one thing we know about the property market, it's that it never stands still. Over the last two decades, we have seen everything from global financial shifts and a pandemic that completely rewrote the rules of house hunting to fluctuating interest rates and evolving lending rules.

Why Using Bristol Mortgages Online is a Game-Changer for Your Remortgage

By Caz Blake-Symes • June 8, 2026
When your current mortgage deal is coming to an end, the ticking clock can feel a little intimidating. Do you stick with your current lender out of convenience, or do you dive into the endless sea of comparison sites to find something better? For many homeowners, remortgaging is the single biggest opportunity to slash

Check out our May Newsletter!

By Caz Blake-Symes • May 19, 2026
This latest edition of our newsletter includes the following articles Remortgage v Product Transfer Why Choose an Expert Mortgage Broker The perfect Partner for First-time Buyers Helpful Mortgage Products from the Family Building Society Time to Remortgage? Plus lots more.. Click here to check it out.

How the Family Building Society and Bristol Mortgages Online Can Help You Own Your Home Sooner

By Caz Blake-Symes • May 14, 2026
Getting onto the property ladder-or even moving up it-can feel like an uphill battle in today's market. Between rising property prices and strict lending criteria, many buyers find themselves just short of the finish line. At Bristol Mortgages Online, we pride ourselves on finding innovative solutions for our clients.

A Guide to Bridging Loans from Bristol Mortgages Online

By Caz Blake-Symes • May 5, 2026
The UK property market moves fast, and sometimes the perfect opportunity doesn't wait for your current house to sell. Whether you’re a homeowner looking to secure your next dream property before selling your current one, or a developer eyeing an auction property that needs a quick turnaround, traditional mortgages ofte

Why Choosing an Expert Mortgage Broker Makes All the Difference

By Caz Blake-Symes • April 28, 2026
Buying a home is likely the biggest financial commitment you will ever make. Whether you are a first-time buyer stepping onto the ladder, a homeowner looking to remortgage, or a seasoned investor expanding a buy-to-let portfolio, the process can often feel like a maze of jargon, paperwork, and fluctuating interest rate

Your First Key to the Door: Why Bristol Mortgages Online is the Perfect Partner for First-Time Buyers

By Caz Blake-Symes • April 11, 2026
Taking that first step onto the property ladder is one of the most exciting milestones of your life—but let’s be honest, it can also feel like navigating a maze blindfolded. Between deposit requirements, credit checks, and legal jargon, the process is daunting.

Why Interest Rates Are Rising Again

By Caz Blake-Symes • March 26, 2026
Recent global developments, including escalating tensions in the Middle East, have started to influence financial markets and, in turn, UK mortgage rates. Understanding how these events filter through to borrowing costs can help you make more informed decisions.

Remortgaging vs. Product Transfers Our Guide

By Caz Blake-Symes • March 17, 2026
If your current mortgage deal is coming to an end, you’ve likely started hearing the words "remortgage" and "product transfer" thrown around. In today’s shifting economic climate, making sure you are on the best possible mortgage rate is more important than ever.

Understanding Mortgage Affordability in 2026

By Caz Blake-Symes • February 16, 2026
we enter 2026, mortgage affordability remains one of the biggest concerns for homebuyers and homeowners alike. With interest rates, living costs, and lending criteria continuing to evolve, understanding what lenders look at when assessing affordability is more important than ever.