How much stamp duty do I have to pay?
The government announced that a temporary rise in the stamp duty threshold from £125,000 to £500,000 will take immediate effect from the 8th July, 2020 running until 31st March 2021. This means purchases under £500,000 for will attract no stamp duty. More details of this announcement are here.
Use our calculator below to work out if you'll have to pay stamp duty, and if so, how much, so that you can factor this into your budget when considering your affordability.
First Time Buyer
Your stamp duty as a first time buyer would be
Purchase before April 2021 to make a saving of
Not a First Time Buyer
Home 1 stamp duty would be
Purchase before April 2021 to make a saving of
Home 2 stamp duty would be
Purchase before April 2021 to make a saving of
Please be aware, your results are only an estimate and should not be considered as a mortgage quote.
*Please note: For purchases under £500,000, these breakdown illustrations do not include current threshold reliefs.
First Home (First Time Buyer)
| Property Price | Rate | Tax Calculation |
|---|---|---|
| £0 - £300,000 | 0% | |
| £300,000.01 - £925,000 | 5% | |
| £925,000.01 - £1,500,000 | 10% | |
| £1,500,000 + | 12% |
Main Residence
| Property Price | Rate | Tax Calculation |
|---|---|---|
| £0 - £125,000 | 0% | |
| £125,000.01 - £250,000 | 2% | |
| £0 - £500,000 | 5% | |
| £925,000.01 - £1,500,000 | 10% | |
| £1,500,000 + | 12% |
Second Home
| Property Price | Rate | Tax Calculation |
|---|---|---|
| £0 - £125,000 | 3% | |
| £125,000.01 - £250,000 | 5% | |
| £250,000.01 - £925,000 | 8% | |
| £925,000.01 - £1,500,000 | 13% | |
| £1,500,000.01 + | 15% |
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Land and Buildings Transfer Tax
Land and Buildings Transaction Tax (LBTT) in Scotland, is a fee you will have to pay if the property you’re purchasing is £125,001 or over.
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Because we play by the book we want to tell you that…
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1%, but a typical fee is 0.3% of the amount borrowed.