Purchasing a second home or investment property often comes with additional financial considerations, including higher stamp duty rates. From 1st April 2025, the government will introduce new stamp duty thresholds for second homes, making it more expensive to buy additional properties.
Currently, buyers of second homes pay the following stamp duty rates:
These rates include a 3% surcharge applied to additional properties.
From April 2025, the stamp duty thresholds for second homes will change significantly:
Use the government's SDLT calculator to effectively calculate the current and future rates.
These changes mean higher costs for second home buyers, especially for properties priced in the £125,001 to £250,000 range. For example:
The government’s aim is to rebalance the housing market by discouraging the rapid accumulation of additional properties. While this may create opportunities for first-time buyers, it also increases costs for investors and those buying second homes.
At Davis Gregory Solicitors, we specialise in helping buyers navigate the complexities of second home purchases. Our conveyancing team offers:
Whether you’re buying a holiday home, a buy-to-let property, or an investment asset, our expert team is here to guide you through every step.
By planning ahead and working with experienced conveyancers, you can make informed decisions about your property purchase, even in light of these upcoming changes.
Our expert conveyancing solicitors are here to help. Please contact us or call 01242 235202.
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