FAQs

Frequently Asked Questions

Q: I am a First Time Buyer, do I need to pay stamp duty?
A: Whether you will be liable to pay stamp duty land tax will depend on the value of the property and whether you have ever owned a property anywhere in the World before (rather than whether you are a first time buyer). If you have never been a property owner, and you are purchasing a property for 250,000 or less, you will not be required to pay stamp duty land tax should you complete by 24th March 2012. Should you complete after that date then unless the Government extend the 'First Time Buyer' exemption scheme, then duty will be payable calculated on H.M Revenues published rates.

Q: What are the Stamp Duty Land tax rates?
A: The SDLT rates for residential property are set out below. Please note that there can be variations (for example if you are being granted a new lease or if you are buying in a disadvantaged area) and we would discuss these with you upon receipt of the Contract papers.
click here to view the current rates

Q: We have heard some reports regarding the proposed High Speed Rail Link (HS2) and would like to know if this could affect the property we are buying:
A: The Department for Transport (DfT) has decided to go ahead with the new national high speed rail network (HS2) between London and Birmingham. HS2 will have major consequences for property owners and occupiers. Some properties may be permanently blighted by their proximity to HS2. On the other hand, some properties may, in the longer term, benefit from the improved transport infrastructure. Many properties may also be temporarily (but possibly for several years) disadvantaged by the HS2 construction works and the resultant noise pollution. In more serious cases, the property may become the subject of compulsory purchase order.

Initial enquiries can be made by reviewing the revised line of route maps published by the Department for Transport by following this link: http://www.dft.gov.uk/publications/hs2-maps-20120110/

In addition we are happy to instigate searches on your behalf at a current cost of £15 plus vat. Please confirm whether you would like us to make this search for you.