How much stamp duty will I pay when I buy a property?
This online mortgage calculator lets you know exactly how much you will pay in stamp
duty for the property that you are buying. It's important that you factor stamp
duty into your overall costs, when budgeting for a house purchase.
Stamp duty is a land tax which is payable when you purchase a property or land in
the UK. The amount you pay depends upon the purchase price of the property. If you
are paying £125,000 or less, then you do not have to pay stamp duty. If you
are paying more than £125,000, then you pay stamp duty of between 1 to 4% of
the purchase price. The tax is tiered at set amounts, which rise as the purchase
price rises.