Landlords selling up are expected to slash prices and accept lower offers in a bid to complete before stamp duty changes at the start of April. 

From April 1 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 this will return to the previous level of £500,000 from the start of April.

Jonathan Bone, head of mortgages at Better, says the acceptance of lower prices may be the only way for any owner now selling to stand any chance of completing a sale on time.

He says stamp duty disproportionately affects buyers in high-value areas like London or regions with smaller homes and ‘fixer-uppers.’ And in terms of up-front costs, he claims that buyers face significant financial pressure to pay higher stamp duty in locations with already-high property values. 

Earlier this week the Halifax claims that the upcoming stamp duty deadlines would motivate buyers to act more quickly. 

Typically it is assumed that many first time buyers are interested in the kinds of property often sold by landlords in recent times, as buy to let has become unviable in many cases.

However, the chance of landlords who now market their properties actually completing a sale ahead of April 1 appears low. 

A recent report by Propertymark, the estate agents’ trade body, suggested that in 40% of transactions it took an average of 17 weeks or more for a house purchase to progress from a seller accepting a buyer’s offer, to actually exchanging contacts. 

It is now less than 12 weeks before April 1.