What the Conservatives Are Saying About Stamp Duty And What It Means for You?

What Is Stamp Duty?

Stamp Duty Land Tax (SDLT) is the tax you pay when buying property in England or Northern Ireland. Depending on the property price, this can cost thousands of pounds — often one of the biggest hurdles for homebuyers.

That’s why the Conservative plan to scrap it entirely for main residences is creating such a buzz.

What Are the Conservatives Proposing?

The new proposal aims to:

• Abolish stamp duty on primary residences (main homes).

• Exclude second homes and investment properties.

• Be funded through government spending cuts, estimated to save £47 billion.

The goal is simple: to make moving easier, boost housing transactions, and reduce one of the biggest costs facing homebuyers.

 Why the Conservatives Want to Scrap Stamp Duty

1. To unlock the housing market – Many people delay moving because of the tax cost. Removing it could free up homes and increase supply.

2. To help buyers and movers – With affordability stretched, cutting stamp duty gives direct savings at the time people need it most.

3. To make homeownership more accessible – Especially for first-time buyers and downsizers who face high costs when entering or leaving the market.

 The Debate: Who Gains the Most?

While the idea sounds great, critics warn it could:

• Benefit wealthier homeowners more than first-time buyers.

• Fuel higher property prices, as savings get absorbed by sellers.

• Cost £9 billion a year in lost revenue, which the government will need to replace somehow.

Economists also note that stamp duty is already devolved in Scotland and Wales, meaning those governments would decide independently whether to follow suit.

When Would It Take Effect?

Nothing’s official yet — this remains a policy proposal, not a confirmed law. The Conservatives say it would apply to main homes only and would roll out over several years, depending on the next election result.

For now, stamp duty still applies, but homebuyers are watching closely.

What It Means for You

First-Time Buyers – You already benefit from reduced stamp duty, but full abolition could save you thousands more.

Home Movers – You’re the biggest winners. The cost of moving could drop significantly, encouraging more mobility and fresh supply in the market.

Investors / Landlords – You won’t see a benefit under this proposal, as it applies only to main residences.

Prosper’s Take

At Prosper Mortgage Solutions, we’re excited about anything that helps clients buy, move, or refinance more affordably. But we also urge caution — because if house prices rise in response, the overall affordability picture may not change as much as expected.

Still, if this policy gains traction, it could reignite housing activity and make remortgaging or moving home more appealing in 2026 and beyond.

If you’re considering your next move, now’s the perfect time to review your mortgage options and get prepared for any changes ahead.

Stay Ahead with Prosper

At Prosper Mortgage Solutions Limited, we’ll keep you updated on all housing and mortgage news — from interest rate changes to government policy updates.

Want to know how these proposed stamp duty changes could affect your next purchase or remortgage?

Get in touch today for expert advice.

📞 07825 770 882

📧 prospermortgagesltd@outlook.com

🌐 www.prospermortgagesolutions.co.uk

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