From 1st April 2025, the nil-rate stamp duty threshold, which is currently £250,000, will return to the previous level of £125,000, and the nil-rate threshold for first-time buyers, which is currently available on properties up to £425,000, will drop to £300,000. The maximum purchase price for which first-time buyers’ relief can be claimed – which is a discounted rate of 5% on the proportion of the property value over the nil-rate threshold - will drop from £625,000 to £500,000. Moving before the changes come into effect could therefore save house buyers thousands of pounds.
To support homebuyers before the upcoming changes take place, our Midlands division, which has developments across Shropshire, Staffordshire, Warwickshire and Worcestershire is committed to helping homebuyers move, offering a variety of schemes and incentives.
Support available for buyers includes Readymade homes that can be moved into before the threshold changes take effect, assistance for customers with an existing property to sell, and stamp duty contributions.
Our Help to Sell scheme assists interested buyers in selling their existing property by arranging valuations, liaising with estate agents, and supporting them with paperwork, as well as providing a contribution towards the cost of selling.
In addition, Redrow Midlands is also offering tailor-made incentives with luxury upgrades available within the home for reservations made before Friday 31st January 2025.
Elaine Cartwright, Sales Director for Redrow Midlands, said: “We understand that the adjustments to stamp duty will cause uncertainty among homebuyers in the Midlands who will want to move before the changes take place.
“Our team of experts are readily available to provide guidance and support throughout the purchasing process. Additionally, we have many schemes and incentives available to support buyers in securing their dream home without the extra stress associated with moving."
Find further information about our Midlands developments.
