Mortgages & Advice
Before we can take a reservation, we ask that you undertake a financial assessment by one of our Independent Financial Advisor’s to confirm your buying position.
Please get in touch with the member of our team for more information.
STAMP DUTY
Stamp Duty Land Tax (SDLT) is a tax you usually pay when you buy a residential property in England, such as a house or flat. The amount depends on:
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The price of the property
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The date you bought it
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Whether you qualify for any reliefs or exemptions (e.g. first-time buyers)
You only pay SDLT on the portion of the property price that falls into each tax band.
Use HMRC’s SDLT calculator to work out what you’ll owe.
STAMP DUTY CALCULATOR
how much is stamp duty?
If the property you’re buying is the only one you own, you pay SDLT based on the following rates:
WHAT IF I’M A FIRST TIME BUYER?
You may get first-time buyer relief if:
– The property is your first home
– You’re buying with others who are also first-time buyers
If the price is over £500,000, you cannot claim this relief and must pay standard rates.
WHAT IF I’M NOT A UK RESIDENT?
If you’re not in the UK for at least 183 days in the 12 months before you buy, you’re classed as a non-UK resident for SDLT purposes.
You’ll usually pay a 2% surcharge on top of other SDLT rates.
This means you may have to pay:
– Standard SDLT rate (based on property value)
– +3% if it’s a second property
– +2% if you’re not a UK resident
Some exceptions and refunds may apply depending on your circumstances. This should be discussed with your financial advisor/solicitor.
WHAT IF I’M AN INVESTOR OR OWN MORE THAN ONE PROPERTY?
If buying the property means you’ll own more than one residential property, you usually pay a 3% surcharge on top of the standard SDLT rates.
Replacing Your Main Home?
You won’t pay the 3% extra if:
– The new property replaces your main residence
– Your previous main residence is sold within 36 months of buying the new one
If your old home hasn’t sold yet, you’ll need to pay the higher rate—but you may be eligible for a refund later. This should be discussed with your financial advisor/solicitor.
WHAT IF I’M BUYING A LEASEHOLD PROPERTY?
If you’re buying a new leasehold residential property, SDLT applies to:
– The lease premium (purchase price) – taxed like a normal property purchase
– The rent over the lease term (if over £125,000 total), taxed at 1% on the amount over £125,000
👉 This doesn’t apply to existing (assigned) leases.
MORTGAGE CALCULATOR
Use our mortgage calculator to find out how much your monthly mortgage repayments could be based on the interest rate, and chosen loan period.
*These results are estimated to give you an idea of the amount of money you could borrow. Real loan amounts and other factors will depend on your finance lender and their terms. Your home may be repossessed if you do not keep up your mortgage repayments.