Stamp Duty Land Tax changes are coming into effect 1st April, and purchasing a new home before this date can save you thousands of pounds.
As we approach the April stamp duty deadline for England and Northern Ireland, there is no denying the bountiful benefits of buying now, not least because the average length of time it takes to buy a home in the UK currently is approximately 12 to 16 weeks.
This time frame takes you thereabouts to the stamp duty deadline at the beginning of April, which, once passed, can potentially cost buyers thousands of pounds.
Sales have already begun to surge, and properties are currently flooding the market, so right now is the best time to act. Below are the biggest reasons to do so, rather than wait until the new year:
Cost Savings: By taking action before the increases go into effect, buyers can save a significant amount of money on stamp duty. Lower taxes make properties more affordable by lowering total purchasing costs.
Increased Buyer Demand: As buyers scramble to finish transactions before the changes take effect, sellers can profit from increased demand. This might result in higher offers and faster sales.
Market Stability: Nearer the deadline, the property market might be volatile, and as demand increases, prices may rise. Buyers and sellers can avoid this uncertainty by taking immediate action.
Avoiding Delays: There might be delays in mortgage approvals, conveyancing, and other administrative procedures as the April 2025 deadline draws near. Transactions will go more smoothly and quickly if you move now.
SPEAKING WITH ONE OF OUR MORTGAGE ADVISORS WOULD SPEED UP THE WHOLE PROCESS SUBSTANTIALLY FOR EVERYONE INVOLVED, SO PLEASE DON’T HESITATE TO CALL US TODAY!
