Copy article

SDLT & asking price discounts

Journalist: Madeleine Ross, Daily Telegraph

ended 05. December 2024

Hello! I am looking to talk to people who have seen significant discounts negotiated with house sellers on the basis of the SDLT changes incoming - where the buyers won't be afford the sale once the changes come in. Have you seen this? Is it common? How much was negotiated off? For the Daily Telegraph.

3 responses from the Newspage community

Copy all

Star Quote
Copy

Editor
Harps Garcha
Director at Brooklyns Financial
Discussions around transaction discounts in response to the upcoming SDLT changes in 2025 have been limited so far. However, it’s possible that market dynamics will begin to shift once the festive season concludes, as buyers and sellers reevaluate their positions. The significant increase in SDLT for first-time buyers is likely to play a critical role in determining whether they proceed with a purchase, as the additional costs could prove prohibitive for many. As the March 2025 deadline approaches, transactions initiated closer to this date could face increased uncertainty or potential disruption, particularly if buyers rush to finalise deals in a compressed timeframe.
Star Quote
Copy

Editor
Ken James
Director at Contractor Mortgage Services
Have buyers started to ask for discounts on the sale price due to the SDLT changes? Almost certainly, yes. But have any been successful? That's doubtful. I have not had anyone since the Budget say they have had a significant discount on the purchase price. Come the New Year we may start to see harder negotiations coming into play but time is against you if you're only just starting the process then. If you're too close to the wire we may see deals collapse as the realisation of how much extra this is going to cost really comes into play for buyers.
Copy

Editor
Simon Bridgland
Broker at Charwin Private Clients
Buyers negotiating significant discounts is certainly on the cards as we close in on the end of the year, but I’ve not seen it as yet. Come the New Year I would imagine chains will start to collapse unless vendors flex on price. Nobody will want sales falling through so a small amount of give in the deal should see them through. However, let's just say a few noses will be cut off to spite the sale.