The stamp duty calculator has been designed to provide you an idea of your stamp duty liability (if any) when buying a property in the UK. The stamp duty amount will depend on whether you are buying your first home, an additional house and where in the country you are.
Stamp duty needs to be paid within 30 days from the completion date (when contracts are signed and keys are collected). This is usually arranged by the solicitors who will make sure this is paid before the completion of the house purchase process. Failure to pay any Stamp Duty that is due may result in a fine.
The stamp duty rates differ in Scotland compared to the rest of the UK.
Yes, it is possible to do so, but generally not advised as it would increase the interest and repayment amount. Apart from paying more for the additional loan to cover the stamp duty, it also has an effect on your LTV (loan-to-value ratio) which may affect how competitive a rate you are getting from the lender.
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|Stamp Duty Tax Rates - England|
|PURCHASE PRICE||RATE ON MAIN PROPERTY||RATE ON ADDITIONAL / BUY-TO-LET PROPERTY|
|Up To £125,000||0%||3%|
|£125,000.01 - £250,000||2%||5%|
|£250,000.01 – £925,000||5%||8%|
|£925,000.01 – £1,500,000||10%||13%|
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Discover how much stamp duty tax you will have to pay when buying a property.
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