We understand moving can be as stressful as it is exciting!
For that reason, Grow Property vows to make buying a home a positive and hassle-free experience by supporting you every step of the way.
We understand that where you live is about much more than just a roof above your head, its your biggest investment, the start or next step in your life journey, whether you’re a first time buyer, looking for a bigger home for the family or a smaller home to make life ‘more comfortable’ or looking to invest your hard earned money into property, we talk like people, we can walk you through every step from first enquiry to move in day.
Stamp Duty Land Tax (SDLT) / Land Transaction Tax (LTT)
Stamp Duty / Land Tax can be a confusing minefield, in short, it’s a tax that BUYERS must pay when they purchase a residential property.
There is standard land tax and higher land tax.
You will usually be exempt from LTT if you:
- buy a property for less than £225,000 and you do not own any other property
- buy a new lease for less than 7 years
You’ll usually pay standard LTT rates if:
- you use your new property as your main home and have sold the last main home you owned before you buy your new home (or on the same day), or
- any of the following apply to the property you’re buying:
- is worth less than £40,000
- a mixture of residential and non-residential space (like a shop with a flat above it)
- is ‘moveable’ like a caravan, houseboat or mobile home
- a freehold property with a lease on it which has more than 21 years left to run, held by someone unconnected to you
|Price threshold||Standard LTT rate|
|The portion up to and including £225,000||0%|
|The portion over £225,000 up to and including £400,000||6%|
|The portion over £400,000 up to and including £750,000||7.5%|
|The portion over £750,000 up to and including £1,500,000||10%|
|The portion over £1,500,000||12%|
You’ll usually pay higher LTT rates when both of the following apply:
- you buy a residential property worth £40,000 or more, and
- you already own 1 or more other properties (see below)
|Price threshold||Higher LTT rate|
|The portion up to and including £180,000||4%|
|The portion over £180,000 up to and including £250,000||7.5%|
|The portion over £250,000 up to and including £400,000||9%|
|The portion over £400,000 up to and including £750,000||11.5%|
|The portion over £750,000 up to and including £1,500,000||14%|
|The portion over £1,500,000||16%|
You can use the online calculator to help you to understand if LTT is payable and what the charge will be.
Mortgages / Interest Rates
We are proud to have partnered with The Mortgage Advise Bureau to offer all our buyers and sellers comprehensive help and advice.
With more than 2,000 advisers across the UK, they can offer expert mortgage advice on a local, regional and national level to UK consumers, both face-to-face and over the phone, plus your application can be accessed via their user friendly app.
We have strong connections with solutions all across the UK who can help with all arms of property law, our legal team can be accessed 24/7 via their online portal taking the hassle out of trying to complete paperwork during working hours!