Santander UK recorded a 130% increase in mortgage applications in the fourth quarter of 2024 compared with the same period a year earlier, as some home-buyers sought to potentially save themselves thousands of pounds in stamp duty costs.
From April, stamp duty discounts will become less generous, with the “nil rate” band for first-time buyers reducing from £425,000 to £300,000 and other home-buyers seeing a reduction from £250,000 to £125,000.
