Beat the Stamp Duty Deadline and Move to a New Home

As a family homebuilder we know that every penny counts especially when it comes to helping families find their perfect home, at the perfect time – and right now is the perfect time to avoid an increase in Stamp Duty Land Tax (SDLT).  For those unsure what this means here’s a brief explanation…

Stamp Duty Land Tax (SDLT) is a tax paid by buyers when purchasing property or land in England and Northern Ireland. It applies to residential properties, commercial properties, and land over a certain price threshold.

The amount of Stamp Duty you pay depends on the purchase price of the property and whether you’re a first-time buyer, a home mover, or purchasing an additional property.

If you’re dreaming of a fresh start in a brand-new home, here’s everything you need to know….

What’s Happening with Stamp Duty?

Currently, homebuyers benefit from the nil rate threshold on properties up to £250,000. From 1st April 2025, this threshold will drop to £125,000, increasing the amount of Stamp Duty payable.

• First-time buyers currently pay no Stamp Duty on homes up to £425,000. However, from April, homes valued between £300,001 and £500,000 will incur a 5% tax on the amount above £300,000.
• Existing homeowners buying a property for £250,000 or more will face at least an additional £2,500 in Stamp Duty charges from April.

For example:

• A family buying a £300,000 home would pay £2,500 in Stamp Duty today.
• Come April 2025, that figure will rise to £5,000.

Here’s a link to a handy calculator to help find out how much stamp duty you’ll pay on your new home – https://www.stampdutycalculator.org.uk/

Move Before the Deadline and Save

For those looking to move before the deadline we have three properties available at our new homes development in Doncaster, Westmoor Grange.  All  three will be ready to move into before 31st March 2025, offering a substantial saving for existing homeowners and some first time buyers.

We have two Sloane homes available, a charming 3 bedroom property designed with modern families in mind.  The living and dining room boasts a light and airy feel thanks to the large French doors leading out to the rear garden.  With the first floor offering a large master bedroom with en-suite and a further two bedrooms and bathroom.  Currently available at £219,950.  Non-first time buyers who move into either of our available Sloane homes before the 31^st March, will benefit from a saving of £1,899 Stamp Duty.

Our third property available to move into before the Stamp Duty deadline is the fabulous four bedroom Bloomsbury. Priced at £319,950, plot 383 is a traditionally designed 4 bedroom home has a dual aspect kitchen and family room with separate utility.  The property has bi-fold doors leading out into the garden offering a peaceful space in which to relax.  The separate dining room gives flexibility and can easily be transformed into an inspiring office space or playroom.  The master bedroom comes complete with a private en-suite and fitted wardrobes and the property also boasts a separate detached garage.  In addition, this plot also comes with a further £8,000 of extras, meaning all you have to do is move your furniture in and start 2025 in a brand new home!  For buyers wanting to move into this plot before 31^st March 2025 there will be a saving of over £2,000 on additional Stamp Duty Land Tax.

We also offer a range of assistance schemes that our buyers can take advantage of, so speak to our sales team to find out if we can help get you moving.