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  "path": "/money/stamp-duty-bill-increase-first-time-buyers-warning",
  "publishedAt": "2026-02-16T09:48:12.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Millions could cover stamp duty costs through 'Godsend' government bonus as bills hit £10,000",
    "Nationwide announces mortgage initiative to ‘help speed up home-buying process’",
    "'I’m 70 and live with five strangers' Retirees flock to flat sharing as pensions fail to cover rent",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nAlmost 37,000 first‑time buyers were dragged into paying stamp duty in 2024/25, with over 13,000 hit by charges of at least £5,000.\n\nThese figures come as recent Government threshold adjustments are expected to push more aspiring homeowners into paying the duty.\n\n\n\n\n###\n\n\n\n\nThe data from HM Revenue and Customs (HMRC), obtained by Plum, shows those entering the property market faced an average tax bill of £4,073.\n\nThe statistics indicate roughly one-in-four transactions claiming first-time buyer relief were still hit by the property tax.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThe breakdown of payments shows 36,999 transactions qualified for first-time buyer relief but still attracted stamp duty charges.\n\nOf these, nearly 25,000 purchasers faced bills of £2,000 or above, while 13,529 were required to pay at least £5,000.\n\nAt the highest end, around 1,285 first-time buyers were charged the maximum possible £10,000 rate.\n\nBefore the April 2025 changes, properties purchased above the nil rate threshold of £425,000 attracted a reduced stamp duty rate of five per cent.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nStandard rates apply to homes valued above £625,000.\n\nFirst-time buyers could previously purchase properties up to £425,000 without paying any stamp duty.\n\nThe system changed from April 1, 2025, when the nil rate threshold was reduced from £425,000 to £300,000.\n\nFirst-time buyer relief was also removed entirely for properties valued above £500,000.\n\nThese changes brought thousands of buyers who previously would not have paid stamp duty into the tax system.\n\nLondon and the South East of England have been most affected due to higher average property prices.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Millions could cover stamp duty costs through 'Godsend' government bonus as bills hit £10,000\n  * Nationwide announces mortgage initiative to ‘help speed up home-buying process’\n  * 'I’m 70 and live with five strangers' Retirees flock to flat sharing as pensions fail to cover rent\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nPlum said first-time buyer stamp duty bills are expected to increase further as new relief thresholds continue to affect transactions across the housing market.\n\nRising property prices are also expected to reduce the number of buyers eligible for relief in future years.\n\nRajan Lakhani, personal finance expert at Plum, said: \"Stamp duty is one of the most hated taxes there is and the pain faced by first-time buyers is particularly acute given the financial challenges they already face in raising a deposit.\"\n\nHe questioned whether the data suggests some potential buyers are being priced out of the housing market entirely because of stamp duty costs.\n\nMr Lakhani added: \"Worse still, the new stamp duty relief thresholds mean tax bills are only going to grow bigger in the years ahead as rising house prices mean more and more first-time buyers lose entitlements to stamp duty relief altogether.\"\n\n###\n\n\n\n\n###\n\n\n\n\nSeparate research from Coventry Building Society found homebuyers across all categories paid £12.3billion in stamp duty between January and October 2025.\n\nThis represented a 21 per cent increase compared with the previous year.\n\nIndustry data suggests rising property values and threshold changes are increasing overall stamp duty receipts for the Government.\n\nProperty market analysts said tax costs are becoming a larger part of overall purchase expenses for buyers across multiple regions.\n\nMortgage lenders and housing market observers have said affordability pressures remain high for many first-time buyers due to deposit requirements, mortgage rates, and additional transaction costs including stamp duty.\n\n###\n\n\n\n\n###\n\n\n\n\nHousing market activity remains sensitive to tax changes, particularly in higher value regions where threshold adjustments can quickly increase buyer costs.\n\nProperty professionals said upcoming market data will show the full effect of the April 2025 threshold changes as transactions continue to move through the system.\n\nTax specialists said first-time buyers must factor stamp duty costs into purchase planning, particularly when buying above revised relief thresholds.\n\nMarket analysts said housing affordability remains a key issue for first-time buyers across the UK as property prices and tax costs continue to shape purchasing decisions.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards:The GB News Editorial Charter **",
  "title": "Stamp duty bill hits £5,000 for tens of thousands of buyers: 'One of the most hated taxes there is!'"
}