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.
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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