will I have to pay?
Until 31 March 2021, you will pay no Stamp Duty Land Tax (SDLT) on the purchase of your main property costing up to £500,000. You pay a different tax if your property or land is in Scotland or Wales. Anyone buying an additional residential property worth £40,000 or more will still have to pay an additional rate of stamp duty even if the property you already own is abroad. You are responsible for ensuring an SDLT return is sent to HMRC and pay any tax due within 14 days of the transaction date (usually the date of completion).
You can expect to pay stamp duty.
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This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you. All mortgages are subject to the applicant(s) meeting the eligibility criteria of lenders. Make an appointment to receive mortgage advice suitable for your needs and circumstances.