Changes to Stamp Duty Land Tax are on their way, set to take effect on March 31, 2025. The temporary increases to the benchmarks that were introduced in September 2022 are coming to an end.
These changes will affect everyone who is planning to move home. First-time buyers will see the biggest impact from the rule changes.
Ultimately, pinpointing the “ideal” moment to purchase doesn’t really exist. What truly matters are the fundamental factors: having a deposit, sufficient borrowing capacity, and viable properties on the market. If you possess your deposit, your income meets the requirements, and suitable properties are available, what’s holding you back from making the leap?
Between now and the conclusion of 2024, over 1.4 million households will reach the conclusion of their mortgage fixed rate. If you find yourself in this category, it’s advisable to consult with an independent mortgage advisor.