Find out your Stamp Duty rates here
This is a tax that you may need to pay when purchasing a property, in addition to the cost of the home. It is based upon the property value, whether it is your main residence or an additional property and it may differ between first time buyers and home movers. Once again our advisers will be on hand to help you factor this in to the process to help you budget.
How much stamp duty will I have to pay?
When you purchase a property costing over £125,000 (or over £300,000 as a first-time buyer), or a second home with a price tag of over £40,000, you will be liable to pay Stamp Duty Land Tax (SDLT). An SDLT return must be filed to HMRC and this tax paid within 30 days of completion. Your solicitor will usually complete this as part of conveyancing.
|RESIDENTIAL PROPERTY – PURCHASE RATE||RATE OF STAMP DUTY LAND TAX||ADDITIONAL PROPERTY – RATE OF STAMP DUTY LAND TAX|
|Up to £125,000||0%||3%|
|£125,001 – £250,000||2%||5%|
|£250,001 – £925,000||5%||8%|
|£925,000 – £1.5m||10%||13%|
These figures are based on current legislation.
Please note there is a 3% levy across all bands for both second homes and Buy-To-Let properties. Click on the link below for a bespoke calculation:
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The Mortgage Shop (NI) Limited undertakes credit broking and is not a lender. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250. You may have to pay an early repayment charge to your existing lender if you remortgage.