Entrance hallway leading into lounge with stairs off, neutral decor
Lounge (4.22m x 3.35m)
Front facing, carpeted, tv point, spotlights, radiator, storage cupboard, feature gas fire with surround, neutral decor
Kitchen/Diner (2.62m x 4.32m)
Range of fitted wall and base units in Beech finish with complimentary worktops. Inset sink and drainer with mixer taps over, built in electric oven and gas hob, laminate flooring, breakfast bar
Leading to all first floor rooms, carpeted, neutral decor
Bedroom 1 (3.56m x 4.32m)
Front facing, carpeted, tv point, radiator, neutral decor
Bedroom 2 (3.30m x 2.57m)
Rear facing, laminate flooring, tv point, radiator, neutral decor
Family Bathroom (2.03m x 1.65m)
Three piece bathroom suite in white comprising sink and toilet, shower over bath, radiator, fully tiled walls and laminate flooring
To the front of the property there is a small garden and to the rear a private rear garden with a decked area and artificial grass
We have been advised by the vendors that the property is Freehold
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.
You pay the tax when you:
•buy a freehold property
•buy a new or existing leasehold
•buy a property through a shared ownership scheme
•are transferred land or property in exchange for payment, for example you take on a mortgage or buy a share in a house
The threshold is where SDLT starts to apply. If you buy a property for less than the threshold, there’s no SDLT to pay.
The current SDLT threshold for residential properties is £125,000.
The threshold for non-residential land and properties is £150,000.
Up to £125,000 – 0%
£125,000 (the portion from £125,001 to £250,000) – 2%
£625,000 (the portion from £250,001 to £935,000) – 5%
In October 2021 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 next £125,000 = £2,500
5% on the final £45,000 = £2,250
Total SDLT = £4,750
From 1 July 2021, you’ll get a discount (relief) that means you’ll pay less or no tax if both the following apply:
•you, and anyone else you’re buying with, are first-time buyers
•the purchase price is £500,000 or less
You’ll also be eligible for this discount if you bought your first home before 8 July 2020.
How much you pay depends on whether the land or property is residential use or non-residential or mixed-use.
If you’re buying a residential property there are different rates of SDLT if:
•you’re a first-time buyer
•you already own a property and you’re buying an additional property
•you’re not a UK resident
You can use HM Revenue and Customs’ (HMRC) Stamp Duty Land Tax calculator to work out how much tax you’ll pay.
You may be able to reduce the amount of tax you pay by claiming relief, such as if you’re a first-time buyer or purchasing more than one property (‘multiple dwellings’).