News & insights - Stamp Duty

Budget uncertainty appears not to be deterring homebuyers, according to Bank of England data, which shows that mortgage approvals increased in September.

Only 5% of homes for sale are free from stamp duty for home-movers, according to Rightmove, rising to fewer than half (40%) of properties for first-time buyers, prompting renewed calls for reform ahead of the Budget.

Mortgage lending between April and June this year fell to its lowest level since early 2024, according to the Bank of England, a likely consequence of the end of the stamp duty concession in March.

House prices climbed by 0.1% in October compared to 0.6% the preceding month, with budget uncertainty likely to have contributed to the slowdown.

The Autumn Budget raised the stamp duty surcharge for those buying second homes from 3% to 5% with immediate effect, hitting landlords wanting to purchase rental properties.

Those getting onto the property ladder for the first time currently don’t have to pay any Stamp Duty at all on the first £425,000 of the property value when buying a home costing up to £625,000. They must pay 5% stamp duty on the portion between £425,001 and £625,000. You can find out exactly how much Stamp Duty you’ll need to pay on your property purchase using L&C’s Stamp Duty calculator.

It’s no secret that sending your children off to university is an expensive endeavour, and if you’re rattling around in a house which now feels empty, you may be wondering if downsizing could give you some extra financial freedom.

A summary of the property & mortgage-related items in the main political parties' manifestos ahead of the July 2024 general election.

Soaring house prices mean growing numbers face a tax bill when they buy. First time buyers currently don’t pay any stamp duty on the first £300,000, as long as the property they are buying doesn’t cost more than £500,000. However, house prices have risen by around £100,000 between 2014 and 2022, according to the HomeOwners Alliance, while Stamp Duty bands ha

There may come a time when you wish to add your partner or spouse to your mortgage. We explain how in this blog.

Homebuyers throughout the UK will now benefit from lower stamp duty costs, with Scottish and Welsh governments both confirming temporary tax cuts.

Despite changes to stamp duty designed to help those struggling to get onto the property ladder, more than 2m first-time buyers aren’t sure whether they will benefit from the new rules.

Falling numbers of first-time buyers will benefit from stamp duty relief over the next decade, with rising property prices meaning around 4m homes across England may no longer qualify.