Stamp Duty Land Tax (SDLT) is a property transaction tax that is to be paid on any property worth over £250,000. The great news is, as a first-time buyer you won't have to pay any stamp duty on a property up to the value of £425,000.
As a home buyer, you will be the ones paying stamp duty rather than the seller. How much stamp duty you will pay depends on which bracket your new home sits in. The more expensive the property, the more stamp duty you’ll pay.
For more information on stamp duty, visit the government’s website.
You won't pay any stamp duty on a main residence up to £250,000, unless you’re a first-time buyer and then it’s up to £425,000!
Those purchasing an additional or buy-to-let property are required to pay an additional 3% surcharge on top of each stamp duty band.
You’re eligible if you and anyone else you’re buying with are first-time buyers. If the price is over £625,000, you’ll pay 5% on the portion up to £925,000, and 10% on anything over that.
| Purchase price | Stamp Duty % |
|---|---|
| Up to £250,000 | 0% (Zero) |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Over £1,500,000 | 12% |
Use our handy Stamp Duty Calculator to find out how much Stamp Duty you will need to pay when purchasing your new home.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
References to “we”, “us” or “our” are to the part of the Vistry Group (including Linden Homes, Bovis Homes, Countryside Homes, Drew Smith, Vistry Ventures or one of Vistry’s joint venture companies) from which you are intending to purchase a new home. References to "you” and “your” are to the prospective buyer or buyers of a new home from us.
All images are used for illustrative purposes only and are representative only. They may not be the same as the actual home you purchase and the specification may differ. Images may be of a slightly different model of home and may include optional upgrades and extras which involve additional cost. Individual features such as windows, brick, carpets, paint and other material colours may vary and also the specification of fittings may vary. Any furnishings and furniture are not included in any sale. Please check with our sales consultants for details of the exact specifications available at the development(s) for each type of home and the associated prices.
