A Better Way To Live
Find your new home
Find your new home
Where would you like to live?

Find your new home

How many bedrooms would you like?

  • One bedroom
  • Two bedroom
  • Three bedroom
  • Four bedroom
  • 5+ bedrooms

What property style are you looking for?

  • Detached
  • Semi-Detached
  • Terraced
  • Apartments
  • Bungalow
  • Town House

Distance

40 miles
0 miles
100 miles

Stamp Duty Savings

Make moving to a Redrow home more affordable.

What is Stamp Duty?

Stamp Duty Land Tax, often referred to as SDLT or Stamp Duty, is a tax due on all property purchases, new or pre-owned. If you’re not a first-time buyer, this applies to all properties worth over £125,000, and affects second houses worth more than £40,000. It applies to both flats and houses, and comes into effect when you purchase land or other buildings too.

Before December 2014, the figure was just a uniform percentage of the total purchase price. But now it ranges from 0% on the first £125,000 of the property price, to 12% of the value over £1.5m. The tax in the rate bands increases with the overall property value at the time of purchase.

How Do You Pay Stamp Duty?

Your solicitor or conveyancer is normally the person who pays stamp duty on your behalf, however you can pay HMRC directly if you so choose. All stamp duty must be paid within a maximum of 30 days after completion.

How Much Will You Have to Pay?

First-Time Buyers

Remember, as of 22nd November 2017, first-time buyers do not pay Stamp Duty on the first £300,000 of their home. Therefore, if you buy your first home for less than this, you will not pay any Stamp Duty. With properties valued up to £500,000, you won’t pay any Stamp Duty on the first £300,000.

As a first-time buyer, you’ll save up to £5,000. If you buy your home for between £300,001 and £500,000, you’ll only pay 5% on that portion of the purchase price. The standard Stamp Duty rates apply to properties valued over £500,000.

If you’re purchasing a second home or have the intention of renting your newly-purchased property out, then higher rates of stamp duty are typically imposed. This usually means that an extra rate of 3% is added to the standard stamp duty tax bands.

The chart below shows what you would pay in Stamp Duty, including the rates and a Stamp Duty calculator to work out the cost.

Stamp Duty Rates

I'm a first time buyer
HOUSE PRICE (MINIMUM)
HOUSE PRICE (MAXIMUM)
STAMP DUTY RATE
£0
£125,000
0%
£125,001
£250,000
2%
£250,001
£925,000
5%
£925,001
£1.5 million
10%
Over £1.5 million
-
12%
Remember, if you're a first time buyer and the property you are purchasing is over £500,000 then standard stamp duty rates will apply to your purchase.
HOUSE PRICE (MINIMUM)
HOUSE PRICE (MAXIMUM)
STAMP DUTY RATE
£0
£300,000
0%
£300,001
£500,000
5%

Work Out the Cost of Stamp Duty

I'm a first time buyer
Required Stamp Duty £0
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