About this calculator
Wales has charged its own Land Transaction Tax since 2018, set by the Welsh Revenue Authority. Its opening band is the most generous in the UK — no tax at all up to £225,000 — but the first taxed slice is steep: 6% from £225,001 to £400,000, then 7.5% to £750,000, 10% to £1.5 million and 12% above. On a £300,000 home the LTT is £4,500, a touch less than England's £5,000 SDLT; at £500,000 it is £18,000, between England's £15,000 and Scotland's £23,350.
There is deliberately no first-time buyer box on this page: Wales offers no first-time buyer relief, so a first buyer in Cardiff pays exactly what a mover pays. What Wales does have is a higher-rate version of LTT for additional properties (second homes and buy-to-lets), which adds several points to every band — this calculator shows main-residence rates, so add the surcharge if you are buying an additional property.
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 in Cardiff with a £30,000 deposit leaves a £270,000 mortgage — £1,500.75 a month at 4.50% over 25 years. The LTT is £4,500: nothing on the first £225,000, then 6% on the remaining £75,000. Total upfront cash beyond the deposit is £4,500 of tax plus the £999 product fee. A first-time buyer pays the same £4,500 — but note that a home at £225,000 or under anywhere in Wales is completely tax-free for everyone, which covers a good share of first purchases outside Cardiff and the coast.
Frequently asked questions
How much is LTT on a £300,000 home in Wales?
£4,500: the first £225,000 is tax-free, and the remaining £75,000 is charged at 6%. At £400,000 the bill is £10,500; at £500,000, £18,000 (the £400,000–£750,000 slice is taxed at 7.5%); at £1 million, £61,750.
Is there first-time buyer relief in Wales?
No. Unlike England (relief to £300,000/£500,000) and Scotland (threshold raised to £175,000), Wales has never introduced first-time buyer relief for LTT. The compensation is the UK's highest starting threshold: everyone pays nothing up to £225,000. If your first home costs £225,000 or less, your LTT is £0 with no forms or eligibility tests at all.
What are the higher rates for additional properties in Wales?
Buying an additional residential property (second home, buy-to-let, or a purchase through a company) uses a separate, higher LTT table with several extra points on every band, charged from the first pound — the bill is several times the main-residence figure, so check the Welsh Revenue Authority table before you budget. This calculator shows main-residence rates only.
Who collects LTT and when is it due?
The Welsh Revenue Authority. Your solicitor or conveyancer normally files the LTT return and pays within 30 days of completion (the effective date of the transaction). The tax applies to homes physically in Wales — a purchase straddling the border is apportioned, which occasionally matters around Chester and the Marches.
What formula does this mortgage calculator — wales 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.