Landlords are urged to act swiftly as significant changes to Stamp Duty come into effect from April 1. The zero-rate threshold for standard residential purchases will drop from £250,000 to £125,000, with tax applying at 2% for properties over £125,000, increasing in bands for higher values. With potential savings at stake, experts advise landlords to move quickly to secure their investments before the deadline.
How landlords can navigate the changing tax landscape
Mish Liyanage, founder of the Mistoria Group, emphasised the importance of swift action in today’s property market. “With the Stamp Duty deadline fast approaching, both buyers and sellers are racing to complete their transactions in time to benefit from potential savings,” he said.
He highlighted the need for efficiency: “Delays in the property market can be frustrating and costly, but with the right approach, you can fast-track your sale or purchase.”
Liyanage advised landlords to take proactive measures. “Speeding up the property sale process requires proactive planning and efficient decision-making from both buyers and sellers,” he added. “Whether you are purchasing your next investment or selling a property, acting quickly and strategically is key to success.”
Expert tips to secure a quick and smooth transaction
To assist landlords in navigating the changing landscape, Liyanage shared essential strategies for both buyers and sellers looking to finalise deals efficiently.
Five essential tips for buyers:
- Get finances in order early – Ensure you have a mortgage agreement in principle, proof of funds for your deposit, and all necessary documents ready to position yourself as a strong buyer.
- Choose an experienced conveyancer – Work with a solicitor known for handling quick transactions to avoid unnecessary delays.
- Move decisively – Once you find the right property, be ready to make an offer promptly and avoid prolonged negotiations.
- Book surveys and valuations quickly – Delays in surveys and valuations can derail a sale; prioritise these steps early.
- Consider chain-free properties – Opting for a property with no upward chain can significantly reduce the risk of hold-ups.
Five essential tips for sellers:
- Set a competitive asking price – Accurately pricing your property from the start can attract serious buyers and lead to faster offers.
- Prepare your property for sale – Declutter, carry out minor repairs, and present the property well to make a strong first impression.
- Have all legal documents ready – Ensure title deeds, warranties, and planning permissions are available to prevent delays in legal proceedings.
- Be flexible with viewings – Accommodate potential buyers by offering a range of viewing times to increase the likelihood of securing an offer.
- Consider a cash buyer or quick-sale firm – If selling quickly is a priority, exploring cash buyer options can help bypass mortgage-related delays.
Landlords positioned for long-term success
While the upcoming changes introduce short-term urgency, they also highlight the importance of strategic decision-making in property investment. Many landlords are weighing the benefits of completing transactions before April 1, ensuring they capitalise on savings while avoiding increased costs.
