Stamp duty and mortgage application

S_C

Im not trying to break the law before someone spits this out but wondering if there is a criteria that one could meet to reduce stamp duty on a new property valued around the £400,000 mark?

Finally is there a aite/application where one can enter details and it will show the current rates from mortgage lenders etc?

Thanks

beecher2

No, you pay stamp duty on the price you pay. You'll pay £12,000 stamp duty if you pay £400,000

http://www.moneysupermarket.com/mortgages/
is one of the online sites where you can look for mortgages. Mortgage adviser might be better though

S_C

beecher2 wrote: »

No, you pay stamp duty on the price you pay. You'll pay £12,000 stamp duty if you pay £400,000

is one of the online sites where you can look for mortgages. Mortgage adviser might be better though

Where could i learn what the fees are and what bracket these fees fall in?

Thanks

beecher2

S_C wrote: »

Where could i learn what the fees are and what bracket these fees fall in?

Thanks

Not sure what you mean. Legal fees you'd get from solicitors' quotations, mortgage fees from the lender. Or do you mean stamp duty rates?

They are

Up to £125,000 Zero
Over £125,000 to £250,000 1%
Over £250,000 to £500,000 3%
Over £500,000 4%