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.

Until recently there has only been a very limited range of mortgage products available for first time buyers with smaller deposits, but there are now signs of improvement.

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

The number of landlords buying properties to rent out is on the up, according to latest data from trade body UK Finance.

May saw a sharp increase in the number of people remortgaging and borrowing extra funds, suggesting that many are choosing to improve their homes rather than move.

Buy-to-let landlords are benefiting from cheaper mortgage rates and a wider choice of deals as lenders compete for their business.

The average price of a flat in England has fallen by 2.1% over the year to an average of £220,146, according to the UK House Price Index for April, whereas all other types of property have increased in value.

Steep stamp duty costs are encouraging homeowners to improve rather than move, potentially reducing the number of smaller homes available to first-time buyers, a House

Non-UK residents buying homes in England and Northern Ireland could soon face steeper stamp duty costs, under proposals being considered by the government.

There are just a few weeks to go before the new 2019-20 tax year begins on 6th April, when landlords will see further reductions in the amount of tax relief they can claim.

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.

In the November 2017 Budget, Chancellor Philip Hammond announced an immediate reduction in Stamp Duty Land Tax (SDLT) that will benefit the vast majority of first time buyers in England, Wales and Northern Ireland and mean 80% of first timers will pay no stamp duty at all.

If you're a first time buyer looking to step onto the first rung of the property ladder, be sure to read our 10-point checklist.