General Provisions

Buying a home is likely to be the biggest purchase you will ever make and an event that you will remember forever. Therefore, here are Bowyer Estates we want to ensure you have a hassle and stress free experience, filled with joy and excitement and with a professional service which is second to none from your first viewing, through to the collection of your keys.

Bowyer Estates offer viewings seven days a week and where possible after work viewings, as we appreciate that not everyone is available Monday to Friday. We will also help negotiate your purchase, put you in touch with local mortgage advisors and solicitors if required and will work with you, giving guidance throughout the entire purchase process, with regular weekly updates on the sale process and appointments for further viewings, as we appreciate one is not always enough.

Here at Bowyer Estates, we are as positive about finding a property for our clients as they are and therefore our systems are modern and up to date and when new properties become available through ourselves, we will text, email and phone our buyers to ensure the right buyer is found for the right house, as quickly as possible.

We would also like to highlight that from April 2016, the new 'Stamp Duty' threshold comes into force on 'Buy To Let' properties. Therefore, we are noting below for all parties information, the current Stamp Duty brackets and what they will be from April 2016, helping you budget accordingly with finances when looking to purchase a second property.

Rates for a single property

You pay SDLT at these rates if, after buying the property, it is the only residential property you own. You usually pay 5% on top of these rates if you own another residential property.

You can also use this table to work out the SDLT for the purchase price of a lease (the 'lease premium').

Example

In April 2025 you buy a house for £295,000. The SDLT you owe will be calculated as follows:

• 0% on the first £125,000 = £0
• 2% on the second £125,000 = £2,500
• 5% on the final £45,000 = £2,250
• Total SDLT = £4,750

If you’re buying your first home

You can claim a discount (relief) if the property you buy is your first home. You’re eligible if you and anyone else you’re buying with are first-time buyers. You’ll pay:

• No SDLT up to £300,000
• 5% SDLT on the portion from £300,001 to £500,000

If the price is over £500,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.

Example
You are a first-time buyer and purchase a property for £500,000. The SDLT you owe will be calculated as:

• 0% on the first £300,000 = £0
• 5% on the remaining £200,000 = £10,000
• Total SDLT = £10,000

Higher rates for additional properties

You’ll usually have to pay 5% on top of SDLT rates if buying a new residential property means you’ll own more than one.

If you’re replacing your main residence, you will not pay the extra 5% SDLT if both of the following apply:

• The property you’re buying is replacing your main residence
• Your previous main residence was sold within 36 months of completing your new purchase

If not sold in time, you’ll pay the higher rate as you own 2 properties.

Higher rates apply when:

• You own more than one residential property worldwide worth £40,000 or more
• You haven’t sold/given away your previous home
• No one else has a lease over it for 21+ years

These rules may apply even if you plan to live in the new property. They consider your spouse/civil partner's ownership as well.

If buying jointly, the higher rate applies if any buyer (or their spouse) meets the criteria.

The higher rates from 1 April 2025

Example
If you own a house which is your main residence. On the 1 April 2025 you buy an additional residential property for £300,000. On completion of the purchase you own more than one property. The SDLT you owe on the purchase will be calculated as follows:

• 5% on the first £125,000 = £6,250
• 7% above £125,000 and up to £250,000 = £8,750
• 10% on the final £50,000 = £5,000
• Total SDLT = £20,000

Rates if you’re not a UK resident

If you’re not present in the UK for at least 183 days (6 months) during the 12 months before your purchase you are ‘not a UK resident’ for SDLT purposes.

You’ll usually pay a 2% surcharge on residential property in England or Northern Ireland. You may be exempt on certain transactions or buyer types.

If you owe the surcharge, it is in addition to all other applicable SDLT rates.

More information and SDLT calculators

Source – Government Website / HMRC
(Please always ensure your solicitor checks your stamp duty calculations for you when agreeing a purchase.)