First Time Buyers Beware with Sarah Grace

Nov 1, 2024

Join mortgage expert Sarah Grace, who specializes in helping first-time buyers navigate the complex world of home ownership. In this chat, she breaks down the impending stamp duty changes set for April 1, 2025, which will significantly raise costs for first-time buyers. Sarah discusses the impact of past policies and addresses whether the new Labour government will offer any relief. With no age limit on first-time buyer status, this conversation is packed with invaluable insights for anyone looking to enter the property market.

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INSIGHT

First-Time Buyer Relief Expires April 2025

The special first-time-buyer stamp duty relief introduced in 2022 ends on 1 April 2025 unless the new government changes it.
That would leave no first-time-buyer scheme for the first time since around 2012 if nothing replaces it.

ADVICE

Consider Completing Before The Cliff Edge

If you plan to complete before 1 April 2025, measure your purchase against the current 0% threshold of £425,000 for first-time buyers.
Act now to lock the larger stamp duty relief rather than risk paying thousands more after the threshold drops.

INSIGHT

0% Threshold Will Revert To £300k

From 1 April the first-time buyer 0% band will fall from £425,000 back to £300,000, increasing stamp duty bills for many.
A purchase at £425k could cost roughly £11,250 more in stamp duty after the change.

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Do your mortgage repayments feel high?
Connect with Sarah here: https://www.dentistswhoinvest.com/sarah-grace-mortgages

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You can download your FREE report on how you can avoid financial mistakes as a dentist using the link just here >>> dentistswhoinvest.com/podcastreport

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Navigate the upcoming stamp duty changes with mortgage expert Sarah Grace. Scheduled for April 1, 2025, these changes could mean higher costs for first-time buyers as the 0% threshold lowers from £425,000 to £300,000. Sarah breaks down the impact of Liz Truss’s 2022 policy and what this means for first time buyers and others in the market. We also explore broader effects, like the reduced 0% threshold for all buyers, and consider if the Labour government’s upcoming budget will offer any relief for first-time buyers.

Listen in as we plan a post-budget episode with Sarah to provide up-to-date analysis of new policies impacting first time buyers. Connect with Sarah at sarah-grace.co.uk or call 0208 633 8888 for expert advice. Prepare to make informed decisions in the evolving first time buyer market!

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Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.

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