About this calculator
The United Kingdom has one mortgage market and three property taxes. England and Northern Ireland charge Stamp Duty Land Tax (SDLT), Scotland charges the Land and Buildings Transaction Tax (LBTT), and Wales charges Land Transaction Tax (LTT) — three banded tables that produce three different bills on the same house. On a £300,000 home the duty is £5,000 under SDLT, £4,600 under LBTT and £4,500 under LTT; on a £500,000 home the spread widens to £15,000, £23,350 and £18,000. Pick your nation above and the calculator uses its table.
First-time buyer relief also differs. England gives first buyers a 0% band to £300,000 and 5% to £500,000 — but the relief vanishes entirely if the price is a penny over £500,000. Scotland simply raises the tax-free threshold from £145,000 to £175,000 (worth up to £600) with no cliff edge. Wales offers no first-time relief at all. The repayment side is shared: a standard capital-and-interest mortgage, estimated across the full term at the rate you enter, with a typical £999 product fee counted in your upfront costs.
How to use it
- Enter the property price and your deposit — the difference is the mortgage amount.
- Add the interest rate and term. Most UK deals fix the rate for 2–5 years, then revert; this calculator estimates across the whole term at the rate you enter.
- Leave the product fee at £999 (a typical lender fee) or set your actual fee — it is counted in your upfront costs, not added to the loan.
- Tick "first-time buyer" if it applies and your nation's relief will be used in the stamp duty figure.
- Read the monthly repayment and the full upfront cash you need: deposit, stamp duty and fee.
The formula
M is the monthly repayment on a capital-and-interest (repayment) mortgage, P the amount borrowed, r the monthly rate and n the number of monthly payments. Stamp duty is not part of the loan maths: it is a separate tax on the purchase price, charged in bands so that each slice of the price is taxed at its own rate — which is why the three UK nations produce three different bills on the same home.
Worked example
A £300,000 home with a £30,000 deposit leaves a £270,000 mortgage. At 4.50% over 25 years the repayment is £1,500.75 a month. Upfront, an English buyer pays £5,000 of SDLT (or nothing as a first-time buyer), a Scottish buyer £4,600 of LBTT (£4,000 with first-buyer relief) and a Welsh buyer £4,500 of LTT — each plus the £999 product fee, so total cash needed beyond the deposit ranges from £999 for an English first buyer to £5,999 for an English mover.
Frequently asked questions
How much stamp duty is on a £300,000 house?
In England and Northern Ireland (SDLT): £5,000 — nothing on the first £125,000, 2% on the next £125,000 (£2,500) and 5% on the final £50,000 (£2,500). In Scotland (LBTT): £4,600. In Wales (LTT): £4,500. A first-time buyer in England pays £0 at this price; in Scotland £4,000; in Wales the full £4,500, because Wales has no first-time relief.
What happens to English first-time buyer relief above £500,000?
It is lost completely — not tapered. At £500,000 a first buyer pays 5% on the £200,000 above £300,000, i.e. £10,000. At £500,001 the standard rates apply to the whole price: £15,000. That £1 step costs £5,000 of tax, which is why offers cluster just under the line. Scotland's relief has no such cliff: it is simply a higher £175,000 threshold at any price.
Why is Scottish LBTT higher than SDLT on expensive homes?
Scotland's LBTT reaches its 10% band at £325,001 and 12% above £750,000, while SDLT stays at 5% until £925,000. The systems cross over as prices rise: Scotland is slightly cheaper at £300,000 (£4,600 vs £5,000) but much more expensive at £500,000 (£23,350 vs £15,000) and at £1 million (£78,350 vs £43,750).
Does the calculator include second-home surcharges?
No. These are the main-residence rates for a single property. Buying an additional property adds 5 percentage points to every SDLT band in England (with matching surcharges in Scotland's ADS and Wales's higher rates), which would add £15,000 on a £300,000 purchase. If you are buying a second home or a buy-to-let, add that surcharge to the duty shown here.
What formula does this mortgage calculator — uk calculator use?
M = P × r(1 + r)^n ÷ ((1 + r)^n − 1) M is the monthly repayment on a capital-and-interest (repayment) mortgage, P the amount borrowed, r the monthly rate and n the number of monthly payments. Stamp duty is not part of the loan maths: it is a separate tax on the purchase price, charged in bands so that each slice of the price is taxed at its own rate — which is why the three UK nations produce three different bills on the same home. The worked example on this page applies the formula step by step with real numbers, so you can verify the result by hand.