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Published: 07 February 2025

Stamp Duty Land Tax (SDLT or Stamp Duty) rates are changing from 1st April 2025, when the temporary increases to the thresholds that were put in place in September 2022, are due to come to an end. Whilst this change will impact everyone planning to move, it's first-time buyers who will be the most affected.

Stamp Duty is one of the most significant costs to consider when buying a property. Whether you're considering a move or just staying informed, this guide will bring you up to speed on the latest rules, offer useful tips, and help you make the best financial decisions when buying property.

What Is Stamp Duty and Why Is It Important?

Stamp Duty Land Tax (SDLT) is a tax that buyers pay on property or land purchases over a certain value in England and Northern Ireland. Scotland and Wales have separate taxes. This tax applies to both freehold and leasehold properties and includes cash and mortgage purchases. For most property buyers, Stamp Duty is an unavoidable cost, so knowing the rates and potential exemptions can save you money and ensure you're financially prepared.

The amount of SDLT liability depends on several factors, including (but not limited to) whether a buyer is:

• A UK resident
• Purchasing a property as an individual or company
• A first-time buyer
• Replacing a main residence
• Purchasing additional property

Why is stamp duty changing?

In September 2022, the then Conservative Government announced a temporary change to stamp duty, lowering the upfront costs of moving home. The aim of this was to support the housing market, the jobs and businesses that rely on it, and those who were hoping to get on the housing ladder. Whilst this measure was initially announced as a permanent change, at the Autumn Statement 2022, the government announced that the increase in the residential nil-rate threshold will end on 31 March 2025.

How is stamp duty changing?

From 1st April 2025, there will be several changes coming into effect:

• The nil rate threshold which is currently £250,000 will return to the previous level of £125,000.
• The nil rate threshold for first-time buyers which is currently £425,000 will return to the previous level of £300,000.
• The maximum purchase price for which First-Time Buyers Relief (a reduced stamp duty rate) can be claimed is currently £625,000 and will return to the previous level of £500,000.

The below table shows the current stamp duty rates for main residences in England:

*The figures are based on a standard residential purchase of a freehold property, which is to be a main residence for an UK resident.

From 1st April 2025, the stamp duty rates will be:

To stay up to date with any future changes to the UK stamp duty charges visit the UK government website.

How can I beat the stamp duty changes?

To take advantage of the current stamp duty rates you’ll need to have completed on your property purchase by 1st April 2025. Whilst this date might seem quite far away, the average time to complete a house purchase in the UK is between 12 and 16 weeks and can take longer in certain circumstances.

How will the stamp duty changes affect first-time buyers?

These stamp duty changes are likely to have the most impact on first-time buyers. By reducing the nil rate threshold by £125,000 and reducing the maximum purchase price for which first-time buyers’ relief can be claimed by the same amount, it could make it even harder for some first-time buyers to get onto the property ladder.

From 1st April 2025, first-time buyers won’t pay stamp duty on properties up to only £300,000, and they’ll only get first-time buyers’ relief on properties up to £500,000 (5% on properties £300,000 to £500,000).

Whereas, currently, if you’re a first-time buyer you don’t pay any tax on properties up to £425,000, and if the cost of the property you’re buying is up to £625,000 you’re also eligible for discounted rates (5% on properties from £425,001 to £625,000).

Current first-time buyer stamp duty rates:

For example, if you’re a first-time buyer looking to buy a £525,000 house in England, you’ll start paying SDLT at £425,000. Your total charge would be £5,000.

First-time buyer stamp duty rates from 1st April 2025:

For example, if you’re a first-time buyer looking to buy a £400,000 house in England, you’ll start paying SDLT at £300,000. Your total charge would be £5,000.

How will the stamp duty changes affect second home purchases?

As of 1st April 2025, there will be an extra band added into the stamp duty thresholds for additional property purchases, reflective of the general stamp duty changes.

The below table shows the current stamp duty rates for additional properties in England: 

From 1st April 2025, the stamp duty rates will be:

What Next?

Whether you're a first-time buyer or an experienced property owner, it’s essential to stay informed about Stamp Duty changes. At Nicholls Residential, we are committed to guiding you through each step of the buying process and helping you make informed decisions.

Ready to make your next move?

Planning to buy or sell a property?

Contact Nicholls Residential today on any of the below numbers or email This email address is being protected from spambots. You need JavaScript enabled to view it. for personalised advice.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730 111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

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Published: 28 January 2025

Good Question! But There Are Many Factors To Keep In Mind

It isn’t surprising that many sellers choose to use the estate agent that gives them the highest valuation for their property.

But is that always the best decision?

It may seem like a no-brainer to go with the estate agent that is giving you a valuation figure far above the others. There are important factors to keep in mind before you make your final decision. The team at Nicholls Residential want you to know how crucial it is to understand the importance of a correct valuation. We want to help you make a properly informed choice when you are selling your home. Of course here at Nicholls Residential we do our utmost to achieve the best possible price from the best possible buyers for our sellers. This is a responsibility that we take very seriously.

An Overvaluation May Make Your Property Become 'Stale'

Some estate agents are prepared to do whatever it takes to get new business, including overpricing properties to persuade sellers to take up their services. We totally understand that it’s very tempting to choose the estate agent that suggests you list at a high asking price. But remember that if they have overvalued your home it could sit for months on the market without any buyers showing interest – essentially, it becomes a stale property. Eventually, you’ll have to reduce your asking price to sell your home and that never looks good to prospective buyers.

The Importance Of Price Banding

All prospective property buyers have a budget that they’ve set for themselves, and will only view properties fitting into that criteria, usually with a small buffer margin just in case. When a property is overpriced, you’ll miss out on prospective buyers who are searching for a house just like yours but who never see it in their searches because it’s been valued above their maximum budget limit.

A correct valuation, on the other hand, will bring your home within the budget of more potential buyers, and if there’s enough interest you could find that your property is the subject of a bidding war where purchasers are prepared to push their financial boundaries just to secure your property. This approach could see you getting a higher sale price for your home than you would have if you’d gone for the higher valuation in the first place.

Getting An Expert Appraisal

It couldn’t be more important to choose a reliable firm of estate agents like Nicholls Residential when listing your property for sale. A trustworthy company will always be honest, transparent, straightforward and will use their local knowledge, alongside information about the current property market conditions, to give you the most accurate and realistic valuation for your home.

Get Help

To find out more about our property valuation process and to learn how we can help you find the perfect buyer for your home, call our team today on any of the numbers below or send us an email to This email address is being protected from spambots. You need JavaScript enabled to view it.. We look forward to working with you to sell your property.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730 111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

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Published: 16 January 2025

Renting out your property can be a positive venture providing you with a steady income stream. However, navigating the process can seem daunting, especially for first-time landlords.

In this guide, we will walk you through the essential steps and rules for renting out a property in the UK, answering common questions such as "can I rent my own property out?" and "What do I need to let out a property?" So let's get started!

Can I Rent My Own Property Out?

If you are a homeowner you have the right to rent out your property here in Surrey subject to certain conditions and legal requirements. Whether you own a house or apartment you can explore the rental market to generate income. However, it's essential to check if your mortgage agreement or lease allows for letting. Some agreements may have specific clauses that restrict or regulate renting out the property. Consulting with your mortgage lender and checking your lease (if you own a leasehold property) can help clarify any restrictions or obtain permission.

What Do I Need to Let Out a Property?

Before you start renting out your property, there are several steps you need to take, here are some of the key ones :

1. Prepare the Property

Ensure that your property is in good condition and meets health and safety requirements. Conduct any necessary repairs, clean thoroughly and present it attractively to maximise its appeal to potential tenants.

2. Landlord Insurance

It's crucial to obtain adequate landlord and building insurance to protect your investment. Regular home insurance may not cover all the risks associated with renting out a property, so research and select a suitable policy that covers rental activities. We can also obtain this for you as part of our management service.

3. Safety Certificates

As a landlord, you must prioritize the safety of your tenants. Obtain gas safety and electrical safety certificates from qualified professionals, ensuring compliance with legal standards. Additionally, installing smoke alarms and carbon monoxide detectors is mandatory.

4. Energy Performance Certificate (EPC)

Before advertising your property, obtain an EPC. This certificate rates the energy efficiency of your property and is legally required. It provides potential tenants with information about energy costs and helps them make informed decisions.

We can arrange all of the above certificates for you as part of our service. 

What Are the Rules for Renting Out a House?

As a landlord in the UK, it's vital to familiarise yourself with the rules and regulations governing the rental sector. Here are some key aspects to consider:

Tenancy Agreement

Use an assured shorthold tenancy agreement (AST) to establish the terms and conditions of the tenancy. This legally binding document outlines rent details, tenancy duration, and responsibilities of both parties.

Right to Rent Checks

Before renting to a tenant, conduct necessary checks to verify their immigration status. This is a legal requirement to ensure compliance with immigration laws.

Deposit Protection

Landlords must protect tenants' deposits using a government-approved tenancy deposit protection scheme. This ensures that deposits are safeguarded and can be reclaimed fairly at the end of the tenancy.

Repairs and Maintenance

Landlords are responsible for maintaining the property and ensuring necessary repairs are carried out promptly. Regular inspections can help identify maintenance issues early on. Routine inspections are part of our full management service. 

Need Help With Your Rental Property?

Renting out your property can be a rewarding venture, but it's essential to approach it with knowledge and preparation. By following the steps outlined in this guide and familiarising yourself with the rules and regulations, you can embark on your journey as a successful landlord.

We can, of course do all this for you and make all arrangements. Please feel free to contact Nicholls Residential on any of the below numbers or email This email address is being protected from spambots. You need JavaScript enabled to view it.. We will be happy to help and guide you in any way that we can.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730 111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

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Published: 10 January 2025

Are you selling your property in our part of Surrey? If interest has slowed, you may be wondering whether it's time to switch estate agents. After all, a new year brings new opportunities, and a change of agent could be just what you need to sell your home quickly and for the best possible price.

Why Consider a New Agent?

There are many reasons why you should consider switching estate agents. Perhaps your current agent isn't proactive enough, or you're not happy with their communication skills. Maybe you're simply not getting the results you were hoping for?

If you're feeling dissatisfied with your current agent, it's important to act sooner rather than later. The longer you wait, the more time you'll lose, so switching to a new agent could give your property marketing a much-needed boost.

How to Choose the Right Agent

Choosing the right estate agent is crucial. Here are our tips to help you make the best decision:

1. Do Your Research: Ask friends, family, and colleagues for their recommendations. You should also read online reviews and visit each agent's website.
2. Interview Multiple Agents: Don't just settle for the first agent you meet. Speak with several different agents and compare their services, fees, and marketing strategies.
3. Ask the Right Questions: When considering agents, don’t just ask about their fees! Their experience, marketing strategies, local knowledge and understanding of the current market conditions are important too.
4. Choose an Agent Who's a Good Fit: It's wise to choose an agent who you feel comfortable with. You should be able to trust them to handle your property sale with care and professionalism.

Tips for Selling Your Property.

In addition to choosing the right estate agent in here in Surrey, we’ve got some practical tips to help you sell your property faster and for a higher price:

• Declutter and Depersonalise: A clutter-free and neutral space can make your property more appealing to potential buyers. Remove excess furniture, personal items, and unnecessary clutter.Enhance Kerb Appeal: A well-maintained exterior can make a great first impression. Pay attention to your front door, landscaping, and overall exterior appearance.
• High-Quality Photography: Careful photography will showcase your property's best features. Also property tours and 360 degree room views all add to excellent presentation.
• Price It Right: A well-priced property is more likely to attract offers. Your estate agent will help you determine the correct value.
• Be Flexible with Viewings: Accommodate potential buyers' schedules and be flexible with viewing times where possible.

Why Choose Nicholls Residential?

At Nicholls Residential, we pride ourselves on providing exceptional service to our clients. We're passionate about helping you sell your property quickly, with no stress, and for the best price.

Our experienced team has a wealth of knowledge and expertise. We'll work hard to market your property effectively and negotiate the best possible deal on your behalf.

If you're looking for a new estate agent in Chessington, Ewell, Epsom or North Cheam to help you sell your property, please contact us. We'll be delighted to discuss your specific needs and answer any questions you may have.

Call our offices (details below) or email This email address is being protected from spambots. You need JavaScript enabled to view it. to work with a dedicated and experienced estate agency. We'll help you achieve your goals and make your property sale a success.

In the meantime, we’ve answered some of your common questions about switching estate agents.

Frequently Asked Questions About Switching Estate Agents

Can I switch estate agents?

Yes, you can usually switch estate agents. However, it's important to be aware of any contractual obligations with your current agent and any potential fees associated with early termination which Nicholls Residential will advise you on.

What are the benefits of switching estate agents?

Switching estate agents can offer several benefits, including:

• Access to a wider pool of potential buyers
• Improved marketing strategies and exposure
• More experienced and knowledgeable agents
• Better communication and responsiveness

How do I switch estate agents?

Just contact Nicholls Residential and we will guide you through the process which can be very straight forward.

Chessington Office 0208 391 110

Epsom Town Centre Office 01372 730111

West Ewell Office 0208 786 7879

North Cheam Office 0208 644 3480

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