Remember that lettuce that outlasted Liz Truss? Well, her stamp duty gift is about to wilt too. You've got less than three months to save up to £11,250 on your dream home – and yes, that's enough time if you play it smart...
Because with Foxtons New Homes, you could be moving in within 2 weeks.
Source: Foxtons New Homes time to complete for a completed development, without mortgage financing, using a recommended solicitor.
Stamp Duty changes: what you need to know
1 April isn't fooling around. That's when stamp duty rates snap back to their old ways, meaning you'll pay at least 2% tax on anything above £125,000, increasing in the bands you'll find in the chart below.
For first-time buyers, it's an even bigger deal – your tax-free threshold drops from £425,000 to £300,000. Also, the maximum property value you can buy and still claim relief drops from £625,000 to £500,000. That extra £125,000 on the property price is a huge advantage when you’re trying to buy in London.
Source: Using official government figures (Stamp Duty Land Tax, GOV.UK)
£0 - £125,000: 0%
£125,000 - £250,000: 0%
£250,001 - £925,000: 5%
£925,001 - £1.5m: 10%
Above £1.5m: 12%
£0 - £125,000: 0%
£125,001 - £250,000: 2%
£250,001 - £925,000: 5%
£925,001 - £1.5m: 10%
Above £1.5m: 12%
0% up to £425,000
Relief available on properties up to £625,000
0% up to £300,000
Relief available on properties up to £500,000
Translation? Act now or wave goodbye to your savings of up to £2,500 for next-steppers or £11,250 for first-timers.
Why new builds are your secret weapon
you could be moving in within 2 weeks.
Source: Foxtons New Homes time to complete for a completed development, without mortgage financing, using a recommended solicitor.
Three months sounds tight, right? That's because it is – unless you're looking at new homes. Our team have the process so streamlined, you’ll have plenty of time to find your perfect one and make the cutoff. But Stamp Duty isn’t the only reason to buy a new build home. Far from it.
New homes are built for modern living - here are the advantages for you.
Worried about energy bills? New homes lead the way in energy efficiency.
No time for DIY? New builds are move-in ready; no painting or renovating required.
New to homeownership? It's all new, even the appliances, so maintenance is minimal.
No surprise for London's number 1 estate agency brand*; our expert New Homes team has a range of properties ready and available. Get in touch with our team to complete before the deadline.
*Source: TwentyCI data, 2024 v 2023 market share and market share growth of new instructions at a brand level.
Forget what you think you know about new builds
Plain? Clinical? Give our team a chance, and we'll show you how today's developers are challenging the tired old clichés.
There's so much room for London’s structural engineers, our architects, our interior designers and property developers to dream up something extraordinary on a brand-new project. And in using best practices honed through decades of urban building innovation you can expect top-quality window installation, heating, plumbing, storage...
We're talking thoughtful architecture, smart tech integration and welcoming communities built from the ground up.
Buying before 31 March? Bring it on.
The clock's ticking, but our New Homes team has properties ready to go. As London's number 1 agent, we've got the expertise to get you over the line before the deadline hits.
Ready to save thousands and start 2025 in your new home? Let's make it happen.
Source: The Foxtons New Homes team has carefully verified every detail in this guide to ensure you have accurate, actionable information. With the Stamp Duty deadline approaching, our experts are ready to help you navigate the market and secure your savings. Do you have any questions on the information provided? Ask a Foxtons expert.
