What is Stamp Duty?
Stamp Duty is a tax you may have to pay when buying a residential property or land in England or Northern Ireland
"If you're buying a home in England or Northern Ireland you will now pay a reduced rate of Stamp Duty Land Tax (SDLT) until 31 March 2021. You will pay no Stamp Duty if the amount you pay for your main home is under £500,000. If you're purchasing additional properties you will still have to pay an extra 3% in Stamp Duty on top of the revised rates for each band". moneyadviceservice.org 16/12/2020
You may want to get an estimate or rough idea of how much you are going to need to borrow before you get in touch with a mortgage advisor. We have found a simple to use STAMP DUTY CALCULATOR that you may find useful, along with current, up to date information.
Did you know?
You have to pay Stamp Duty within 14 days of buying a property.
Your solicitor will deal with the Stamp Duty payment for you but it is your responsibility to ensure this happens.
Stamp duty calculator
Whether you are buying a property or land, you may have to pay stamp duty and the amount will vary depending on the price of the property or land.
To get an idea of what you might need to pay, please use the HMRC Government Stamp Duty Calculator
Second Home Owners/ Investors - If you are buying a second home or buy to let property an additional 3% must be added to each Price Band.
First Time Buyers - Following the Autumn 2017 Budget announcement, ALL first-time buyers will now be exempt from stamp duty on the first £300,000 of homes worth up to £500,000. Please check out the HMRC Government website for up to date information.
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