Stamp Duty - some useful information

Stamp Duty is a minefield and usually quite an unpopular subject! However with a bit of knowledge there are avenues to explore to minimise what you pay in different situations. It’s well worth scanning these bullet points to see if anything is relevant and then talk to us for clarification on your specific situation.


  • Property buyers of additional properties have to pay an extra 3% in Stamp Duty on top of current rates for each band on properties bought for £40,000 or more

  • The additional 3% does not apply to caravans, mobile homes or houseboats

  • There is an option to apply for a refund of the additional 3% if you sell or give away your main property within 3 years of buying your second.

  • Refunds must be applied for with in 3 months of the sale completion or within 12 months of the filing of your SDLT tac return – whichever comes later

Apply for a refund or get more info here


  • A person is classified as a first-time buyer if they're purchasing their only or main residence and have never owned a residential property in the UK or abroad.

  • If you're a first-time buyer in England or Northern Ireland, you will pay no Stamp Duty on properties worth up to £300,000 saving up to a maximum of £5,000.

  • For properties costing up to £500,000, you will pay no Stamp Duty on the first £300,000. You will pay Stamp Duty on the remaining amount, up to £200,000

  • If the property you are buying is worth over £500,000, you will pay the standard rates of Stamp Duty and will not qualify for first-time buyer's relief

  • First-time buyers under shared ownership schemes can claim First-Time Buyers' Stamp Duty relief on homes - worth up to £500,000. Under this scheme you might now be able to claim this back. You can find out more here


  • If you're married and jointly buying a property, then you both need to be eligible first-time buyers to get First-Time Buyers' Stamp Duty relief

  • Unmarried people can get a reduction in Stamp Duty but only if the only person named on the mortgage deeds is a first-time buyer

  • The maximum saving on a property purchase is still £5,000

  • If the mortgage application is only in one name, any mortgage offer will be based on that single applicant's ability to borrow

In any event, when buying property, it’s always best to have a chat with us. We have years of experience and can advise the most prudent way to buy.

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