Our Conveyancing Service
Whether you are new to the buy to let market or a professional landlord, our conveyancing experts can help you progress your transaction as quickly as possible. Leading you through every stage of the legal process, we will keep you continually informed of the work we are carrying out by regular updates.
We are greatly experienced in dealing with buy to let mortgages and are on the vast majority of lenders panels, so assisting your transaction shouldn’t be an issue.
When buying a buy to let property as a second or holiday home, you’ll currently have to pay a 3% extra in stamp duty on the first £125,000, regardless of which country of the UK you live in. Buy to let and second home stamp duty rates are calculated on a tiered system, so the higher the purchase price, the higher the rate of stamp duty you will pay.
Here’s a table showing the % of stamp duty, per portion of property price:
|
Portion of property price |
Buy-to-let stamp duty rate |
| £0-£40,000* |
0% |
| £0-£125,000** |
3% |
| £125,001-£250,000 |
5% |
| £250,001-£925,000 |
8% |
| £925,001-£1.5m |
13% |
| £1.5m+ |
15% |
| Rates also apply to second homes and holiday homes. *If total property prices is £40,000 or less. **If total property prices is more than £40,000. |
|
Here is an example of how it works:
There are some exemptions to the Buy-to-Let stamp duty charges, and if you have any questions, feel free to contact us to discuss them in detail and obtain a quote for our legal fees on 0844 800 9860
102-106 South Street
Romford
Essex
RM1 1RX
(Entrance in Havana Close)
Focal House
12-18 Station Parade
Barking
Essex
IG11 8DN
DX: 8501 BARKING
Our Saturday Legal Clinic is open every Saturday from 9am to 1pm at our Romford and Barking offices. As Solicitors in Romford and Barking we want to ensure every potential client has the opportunity to have a free 15 minute consultation with a lawyer.
