About your borrowing ability

Tax is payable when you buy a property over a specific price. The sums can be very significant, and you need to factor this into your budget when assessing how much of a deposit you require to purchase a home. 
The actual applicable rates rely upon where you are purchasing in the UK, whether you are a first-time buyer, and if not, how many properties you presently own.

• In England and Northern Ireland, it’s known as Stamp Duty Land Tax and is payable on purchases above £125,000, or £300,000 for first time buyers.
• Wales’s equivalent is called the Land Transaction Tax and applies to properties over £180,000 (different thresholds may apply to anyone purchasing an additional property).
• Scotland has the Land & Buildings Transaction Tax, which applies to properties over £145,000, or £175,000 for first time buyers.
• England and Northern Ireland impose a 3% surcharge for additional properties such as second homes or Buy to Let. In Scotland and Wales, it is charged at 4%.
• Please note that if you are currently living overseas an additional Stamp Duty Land Tax charge may apply for purchases in England and Northern Ireland. Please consult a solicitor for further information.

The calculator below quantifies the suitable Land Tax due if your purchase is completed after September 30, 2021. Expert Mortgage Brokers is unable to provide tax advice and suggests that you seek specialist advice on the Land Tax level that might apply to your contexts. 
Valuable information  Our stamp duty calculator displays rates for individuals purchasing a residential property, buy to lets and additional properties. Other rates may apply if you purchase through a limited company, and you should consult an accountant if you plan to do so.