Stamp Duty Drama: What It Means for Swindon Homeowners and Landlords

A Wild Week at Westminster

Headlines this week were dominated by Deputy Prime Minister and Housing Secretary Angela Rayner, who admitted she had underpaid Stamp Duty Land Tax (SDLT) on an £800,000 flat in Hove.

She had placed her former family home into a trust for her children, but nevertheless the new flat should still have been counted as a “second property”, meaning a 5% SDLT second-home surcharge. Instead of the normal £30,000, the true liability was closer to £70,000.

The error caused a political storm, and Rayner resigned her posts – not just Deputy PM, but also Housing Secretary, which has left homeowners and landlords here in Swindon asking: how will this affect the housing market?

Do Political Headlines Move the Property Market?

The short answer: not always, and in this sort of instance, not much.

Swindon’s housing market is shaped mainly by what mortgage rates are doing, supply and demand, and local confidence. Over the past 30 years, average prices have risen from around £75,000 in 1995 to over £275,000 by mid-2025, despite frequent ministerial reshuffles (15 in the past 20 years alone!).

That said, political change can influence policy. Each Housing Secretary brings their own priorities, whether that’s boosting homeownership or rental reform. 

Rayner had oversight of the government’s pledge to deliver 1.5 million homes nationwide during the course of this parliament, and the Office for Budget Responsibility had noted that this was not too far off course, earlier in the year. Whether her resignation slows down that progress remains to be seen, but in practice it is the department’s junior ministers and civil servants who ensure policy is carried through.

Locally, Swindon’s plan to deliver 24,100 new homes is expected to stay on track. For sellers and landlords, the key point is this: your property’s value depends far more on Swindon’s own market fundamentals than on Westminster reshuffles.

Stamp Duty in a Nutshell

Obviously we caveat this next section with the opening phrase: you should check the stamp duty you owe with a specialist advisor who can talk it through based on your personal circumstances. 

Nevertheless, with SDLT currently back in the spotlight as it is, here’s a useful refresher on what is typically owed based on purchases at certain price points:

• 0% up to £125,000
• 2% from £125,001–£250,000
• 5% from £250,001–£925,000
• 10% from £925,001–£1.5m
• 12% above £1.5m

Example: On a £350,000 Swindon home, you’d pay £7,500 SDLT.

There are variations, however (as at time of writing, September 2025):

• First-time currently buyers pay nothing up to £300,000
• Second homes and buy-to-lets add a 5% surcharge.

SDLT must be paid within 14 days of completion, usually handled by your solicitor.

In short, SDLT is a standard cost of buying property. It’s one you need to budget for alongside legal and moving fees.

Why Specialist Advice Matters

Most property purchases are straightforward. But where trusts, multiple dwellings, or company ownership are involved, the rules get complicated.

Rayner’s case shows how easily things can go wrong. Tax specialists have called it an “obscure area of law” that many conveyancers won’t encounter in their careers. A quick consultation with a tax advisor or specialist solicitor can save thousands and help avoid awkward calls from HMRC later.

Key Takeaways for Swindon Homeowners & Landlords

• Don’t panic about politics. Ministerial resignations rarely move house prices.
• Focus on fundamentals. Mortgage rates and local demand matter more than headlines.
• Budget for SDLT. It’s a cost you can’t typically roll into your mortgage.
• Seek advice if your situation is unusual. Trusts, transfers and complex deals need expert eyes.
• Stay informed. Real policy changes (such as a stamp duty holiday or major reform) are the ones worth watching.

The UK property market has weathered far bigger storms, from financial crises to sky-high inflation and soaring interest rates. A new Housing Minister barely registers as a headwind by comparison.

Frequently Asked Questions

1. How much Stamp Duty do I pay on a Swindon property?

On a £250,000 Swindon home — not far below our local average — you’d pay £2,500 SDLT as your main residence. First-time buyers may pay nothing up to £300,000. A second property attracts a 5% surcharge.

2. Does politics affect Swindon house prices?
Not much. Prices here are driven by rates, supply, and demand. Political reshuffles rarely have long-term effects.

3. What extra costs should I budget for?
Alongside your deposit and mortgage, budget for SDLT, solicitor fees, surveys, and moving costs. Landlords may also face letting setup and licensing fees.

4. Who can I speak to for advice?

The House Group member agents are here to help across Swindon, Cirencester, and also now in South Hampshire. Whether you’re buying, selling, or letting, you can book a free, no-obligation appointment for clear, local guidance.