Stamp Duty Deadline
By Mark Carney. March 10, 2025.
Liverpool Home Buyers Race to Beat Stamp Duty Deadline: Thousands at Risk of Extra Costs
Liverpool homebuyers, especially first-time buyers, are rushing to complete their property deals before the end of March, fearing they’ll face hefty stamp duty costs come April.
With new stamp duty thresholds set to take effect in England on 1 April, many are feeling the pressure. First-time buyers in particular stand to be hit hard as the tax rules change, and for some, the extra cost could run into the thousands.
At the moment, properties worth under £250,000 in Liverpool are exempt from stamp duty, but from April, that threshold will drop to £125,000. Additionally, the first-time buyer threshold will be reduced from £425,000 to £300,000, which means more buyers in the region could be forced to pay the tax.
The government previously introduced these changes in the mini-budget of September 2022. While they argue that they are helping more people buy their first home, local buyers are feeling the strain.
Stamp Duty Crisis in Liverpool: Is Your Home Affected?
Rightmove reports that an estimated 25,000 first-time buyers and 74,000 home movers across England could miss the deadline, potentially resulting in extra costs for them.
In some parts of Liverpool and the surrounding areas, the average home for first-time buyers now falls within the scope of stamp duty, and many could be caught out by the change. Some areas will see a significant increase in the number of properties subject to the tax.
Government’s Response
Despite the growing anxiety among buyers, the government insists it is committed to making homeownership more accessible by fixing the planning system and building 1.5 million new homes.
However, many Liverpool buyers, like those across the UK, are left wondering if the government’s promise will come too late to prevent extra financial burdens for those on the brink of purchasing their first home.
For now, it’s a race against time. With just a few weeks left before the 1 April deadline, thousands of buyers in Liverpool are hoping to cross the finish line in time – and avoid the financial hit that awaits them if they miss it.
If you have any concerns please speak to your mortgage broker or a solicitor.