Stamp Duty Paid

For first-time buyers there is no Stamp Duty to pay on properties up to £300,000 in England, so owning your new home could be closer than you think.

What is Stamp Duty?

Stamp Duty is the tax charged by the Government when you buy a home. For first-time buyers in England no Stamp Duty is payable on properties up to £300,000. Homeowners need to start paying Stamp Duty from £125,000.

Stamp Duty in Scotland is now referred to as the Land and Buildings Transaction Tax (LBTT) and is charged when you buy a home of more than £145,000 for existing homeowners, and £175,00 for first-time buyers.

See more detail on LBTT (Scotland)

Stamp Duty in Wales is now referred to as the Land Transaction Tax (LTT) and is charged when you buy a home of more than £180,000.

See more detail on LTT (Wales)

Why do we have to pay it?

When you buy a property the change in land ownership has to be legally registered at the Land Registry. This process requires a certificate from the HMRC – which they will only issue on receipt of the Stamp Duty due on the purchase of the property.
So, put simply, if you don't pay the Stamp Duty, you can't buy your new home. The transfer of funds to pay the Stamp Duty will be managed for you by your solicitor.

How much is Stamp Duty?

In England, Stamp Duty rates are paid on a sliding scale based on the property price within each tax band.

Stamp Duty payable for England - First-time buyers:

Purchase Price

Stamp Duty %

£0 to £300,000

0% (Zero)

£300,001 to £500,000

5% (£0 Stamp Duty to pay up to         £300,000)

£500,001 to £925,000

5%

£925,001 to £1.5 million

10%

Over £1.5 million

12%

Stamp Duty payable for England - Existing Homeowners:

Purchase Price

Stamp Duty %

£0 to £125,000

0% (Zero)

£125,001 to £250,000

2%

£250,001 to £925,000

5%

£925,001 to £1.5 million

10%

Over £1.5m

12%

Buyers of additional residential properties, such as second homes and buy-to-let properties, will have to pay higher rates (+3%) in Stamp Duty on top of the current rates for each band.

How could we pay it for you?

Legally, when purchasing a home, the purchaser has to pay the Stamp Duty land tax on their purchase. On selected plots, we may be able to make a contribution towards your Stamp Duty - just ask the Sales Adviser at the development.

Should you proceed with this offer, your solicitor will deduct the agreed contribution from the purchase price that is paid to us and allocate it to the Stamp Duty payment on completion of the purchase of your new home.

Click to read the full Terms and Conditions.