From April 01, 2025, the UK stamp duty zero threshold, for first time buyers, drops to £300,00 from £425,00. For all other buyers it will be £125,00 down from £250,00.

This according to UK mortgage lender Santander has caused a 130% increase in mortgage applications over the last few months increase, as the UK has an average timescale of 4 months from initial application to completion.

With average house prices in the southeast of the country (excluding London) listed at just under £400k, this quick completion before April could mean a saving of £5000 in stamp duty.

Santander in their February 11 press release also state

“Recent research by the bank reveals that first-time buyers are increasingly compromising on location to fulfil their dream of owning a home. Two-thirds (67%) of Brits who bought their first home in the last two years had never seen their new neighbourhood before buying, compared to just over half (51%) of those who bought more than five years ago. According to the research, first-time buyers moving to new neighbourhoods in the last two years saved an average of £29,000 compared to buying a house in the area they lived in before.