How will the new stamp duty rates impact you financially? Mortgage advice East Sussex UK

Описание: How will the new stamp duty rates impact you financially?

Here are the new Stamp Duty Rates (as of 1st April 2025):

🌳 The amount before you start paying stamp duty is £125,000 (was £250,000)
🌳 The First Time Buyer nil rate threshold is now £300,000 (previously £425,000)
🌳 The maximum purchase price for which First Time Buyers Relief can be claimed is now £500,000 (previously £625,000)

Here are some First Time Buyer Stamp Duty Examples:

🏠 Property Price: £325,000
Stamp Duty to pay: £1,250

🏠 Property Price: £425,000
Stamp Duty to pay: £6,250

🏠 Property Price: £499,999
Stamp Duty to pay: £9,999
(£500,000+ no FTB discount)

Here are some Non-FTB Stamp Duty Examples

🏠 Property Price: £325,000
Stamp Duty to pay: £6,250

🏠 Property Price: £425,000
Stamp Duty to pay: £11,250

🏠 Property Price: £500,000
Stamp Duty to pay: £15,000

Your Stamp Duty tax bill is a hefty amount of extra cash for you to find, on top of your other mortgage fees and moving costs. Getting on top of your monthly budget, to see where you can save, is a good place to start. Every pound will help towards your overall fees and moving costs.

How can we help?

🌳 Download our free Budget Planner and First Time Buyer Guide from our website:
www.willowtree-fs.co.uk/resources

🌳 Contact us to look at your options and affordability, before you start house hunting!

Buying your first home is likely going to be your biggest investment, we're here to help you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Video: RDNE Stock Project / Pexels

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