First-time buyers scramble to complete home purchases before stamp duty rise

First-time buyers will see their ‘nil rate’ band reduce from £425,000 to £300,000 at the beginning of next month - (PA Archive)

First-time buyers are rushing to complete their purchases with just days left before soaring stamp duty rates slam the door shut.

From 1 April, the rate where there is no stamp duty tax to pay will shrink. First-time buyers will see their “nil rate” band reduce from £425,000 to £300,000 at the beginning of next month, and home movers will see their zero rate threshold halve from £250,000 to £125,000.