First-Time Buyer Stamp Duty Relief
If you're buying your first home, you could pay significantly less stamp duty than standard buyers thanks to First-Time Buyer Relief.
Eligibility Rules
To qualify as a first-time buyer:
- You must never have owned a property anywhere in the world
- ALL buyers must be first-time buyers (for joint purchases)
- The property must be your main residence
- The property price must be £625,000 or less
First-Time Buyer Rates
| Property Price | Stamp Duty |
|---|---|
| Up to £425,000 | 0% |
| £425,001 - £625,000 | 5% |
If the property costs more than £625,000, you pay standard rates on the entire purchase.
Comparison: First-Time Buyer vs Standard
Property price: £500,000
First-Time Buyer:
- £0 - £425,000 at 0% = £0
- £425,001 - £500,000 at 5% = £3,750
- Total: £3,750
Standard Buyer:
- £0 - £250,000 at 0% = £0
- £250,001 - £500,000 at 5% = £12,500
- Total: £12,500
Saving: £8,750
Important Considerations
- Properties over £625,000 - No first-time buyer relief at all
- Buy-to-let or second homes - Additional 3% surcharge applies
- Deadline - Pay within 14 days of completion
- Scotland and Wales - Different schemes apply
Calculate Your Stamp Duty
Use our Stamp Duty Calculator to get an instant calculation for your specific situation, including first-time buyer relief.