Stamp duty land tax (SDLT), or stamp duty as it's more commonly known, is a tax on land and property transactions.

Stamp duty rates are tiered, so after the first £125,000, which is tax-free, you’ll pay a different percentage rate for each portion of the value of the house.

Stamp duty is usually payable within 30 days of the 'effective date', which is typically the day of completion. Occasionally, it's payable earlier - for example if you pay for the property before completion, or you move in before the day of completion, the 30-day clock starts ticking on this earlier date.

Your conveyancer or solicitor will usually handle the payment of stamp duty on your behalf. However, it's your responsibility to make sure the right amount of tax is paid to HMRC so make sure you check the figure your solicitor comes up.

How much is stamp duty?

Our table below shows the percentages you have to pay on residential properties as the value increases. 

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Stamp Duty

The mortgage market is very competitive and there are new deals available all the time. It is likely that your biggest monthly outgoing is your mortgage and by finding a better deal you could save hundreds and possibly thousands of pounds.

Warning

Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it. 

A fee of £299 is payable on application. We will also be paid commission from the lender.

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Elm Tree Financial Services Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA 511619).
Elm Tree Financial Services Ltd, registered in England No. 7050523. Registered Office: Elm Tree Financial Services,  Holes Lane, Woolston, Warrington, WA1 4LZ. Telephone 0925 815 555

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