Stamp Duty Land Tax (SDLT) is a government tax that is charged to a buyer when they buy a property. If you're a first-time buyer, then you won't pay stamp duty on properties worth up to £500,000 but you will pay 5% on the next £425,000 (the portion from £500,001 to £925,000).
Reduced rates of Stamp Duty Land Tax (SDLT) will apply for residential properties purchased from 8 July 2020 until 31 March 2021 inclusive as seen on the government website here.
During the reservation on our platform, the stamp duty is automatically calculated based on the price of the property and whether or not you are a first time buyer, meaning no hidden costs or surprises!
To learn more about stamp duty, click here.