November budget 2025, your residential property questions answered

November budget 2025, your residential property questions answered

The November 2025 Budget was the subject of much speculation in the press with rumours of major changes to stamp duty and the introduction of a new tax on the sale of a property. While these failed to materialise, there are other changes that could affect you.

‘There was a lot of concern about how the 2025 Budget would affect property owners,’ agrees Patricia Hall, head of the residential property team. ‘And this may have led some people to put their plans to move or invest in property on hold. Fortunately, the situation is now much clearer. However, while the changes introduced by the Chancellor of the Exchequer may be less drastic than some feared, it is still important to be aware of the new rules.’

Here Patricia answers some of your questions.

I plan to move shortly. How will the 2025 Budget affect me?

If you are selling your home, or buying a new one, the 2025 Budget makes no changes likely to affect you.

Last year’s Budget changed the way stamp duty land tax (SDLT) applies to the purchase of property, particularly in relation to second homes or investment properties. However, the 2025 Budget made no further changes and so the existing rates still apply. This means most buyers will continue to pay SDLT on their purchases, the amount depending on the property’s value.

How will the 2025 Budget help first-time buyers?

The 2025 Budget contained no measures to directly benefit first-time buyers. However, potential reforms to the Lifetime ISA could make it easier for buyers to save for their first home. First-time buyers could also benefit indirectly from the Government’s plans to increase housing supply, for example, through the Social and Affordable Homes Programme.

Is there anything else I need to consider?

Buying or selling a property is an important economic transaction, with many legal issues to be considered in order to protect your interests and your enjoyment of the property in the long term. It is important to also choose a solicitor who understands your individual aims and aspirations, and knows your local market, as well as all the legal aspects of the transaction.

How we can help

For further information, please contact Patricia Hall in the residential conveyancing team on 0191 297 0011 or email whitley.bay@kiddspoorlaw.com.

This article is for general information only and does not constitute legal or professional advice. Please note that the law may have changed since this article was published.