Learn about Stamp Duty
Discover all you need to know about Stamp Duty and how much you may need to pay when purchasing your new home.
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, in England. If you are buying a residential property, there are different rates of SDLT if you are a first time buyer, are buying an additional property or are not a UK resident.
The Government has temporarily adjusted the threshold at which SDLT starts to apply to £250,000, meaning that homebuyers will have less tax to pay. This rate is in place until 1st October 2021, at which point it will revert to £125,000.
Please note tax rates differ between England and Wales. If you’re buying a home in Wales costing more than £250,000, you’ll have to pay Land Transaction Tax (LTT) on your purchase.
From the 1st October 2021 the zero rate will only apply for values up to £125,000 with the portion between £125,001 to £250,000 being charged at 2%.
Rates on your first homeFirst-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.
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.
Home mover rates
When you buy a property you're planning to live in (and you've owned a property before), you'll pay Stamp Duty on each portion of the property price.
Ways to help you move
Discover how easy and affordable moving into a new Redrow home can be when you use our range of incentives that are designed to help you move.