Move with Us claims home buyers must have completed their house purchase by 24 March 2012 to qualify for the current 1% stamp duty exemption on purchased properties up to £250,000.
The property firm said that it takes on average 39 days between an offer being accepted and completion as long as purchasers are “legally ready” to buy, making 14 February the last possible date to put an offer in.
Under the current Stamp Duty Land Tax relief rules there is a temporary exemption allowing first-time buyers to avoid the 1% stamp duty tax on homes costing under £250,000, a saving of £2,000 on a house worth £200,000.
Robin King, director at Move with Us, said: “While moving is never an exact science, buyers can improve their chances of a smoother process by being legally ready.
“Although the government is ending the stamp duty relief exemption because it says it has not been popular, if you are a first-time buyer and looking to buy soon then you would be a fool not to try and take advantage of it before it ends.”
He added that the changes to stamp duty will only benefit those who can afford a big deposit.
“Those who are struggling to save enough may wait to benefit from the new build scheme, which the government is proposing to introduce later in the spring,” he said.
