Can you add Stamp Duty to your mortgage?

Although some lenders will allow you to add Stamp Duty to your mortgage, it is not recommended. Not only does this add to the amount of money you are borrowing, but it also will increase the LTV (loan-to-value) of your mortgage which could increase your borrowing costs.

What is the 3-year rule for SDLT?

The 3-year rule means that if you sell or give away your previous main residence within three years of purchasing your new home, then you can apply for a refund for the percentage of SDLT you paid for owning multiple properties.

Who is exempt from Stamp Duty?

If the property you are buying is worth less than £250,000 you will not have to pay Stamp Duty. First Time Buyers don’t have to pay Stamp Duty on properties worth up to £425,000. In Scotland you do not have to pay Lands and Building Transactions Tax up to £145,000. For First Time Buyers the threshold is £175,000. In Wales you are exempt from paying Land Transaction Tax if your property is worth under £225,000.