Launched by Andrew Powell, CEO of letting and estate agents Andrews Property Group, the petition asks the government to devise stamp duty payment plans for buyers who are struggling to save enough to fund a deposit for a home, as well as the other buying costs.
"Introducing Stamp Duty Land Tax payment flexibility [allows] buyers to choose between paying in full at completion or spreading the cost over 2-5 years via a government-backed scheme. This could reduce upfront barriers to homeownership and is similar to other HMRC payment plans," says Powell on the petition page.
Stamp duty barrier for homebuyers
"We think the 14-day SDLT payment requirement creates affordability barriers for first-time buyers and homeowners. Buyers may have to save extra funds, on top of deposits, or increase mortgage borrowing, which could reduce purchasing power.
"We think short-term solutions, such as temporary rate cuts create pressure for all parties in the moving process. We think a flexible payment scheme would be a sustainable solution, it would address affordability, while maintaining tax revenue, and improving housing market mobility."
The petition is open for signing until January 1, 2026.
If the petition raises 10,000 signatures, the government will make a written response, while if the support hits 100,000 signatures, the campaign goes forward to a debate in Parliament.
Other property related campaigns open on the petition website are listed below. The next most popular petitions making the top four relate to estate management fees and service charges.
