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Calculate Stamp Duty

Stamp Duty Calculator FAQs

Is the Stamp Duty Calculator accurate?

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The Stamp Duty Calculator provides an estimate based on the property price and current stamp duty rates, making it a useful tool for getting a general idea of how much you might need to pay.

However, it’s important to note that the calculator offers a rough estimate and does not account for any exemptions, reliefs, or specific circumstances, such as first time buyer discounts or additional property surcharges.

For a more accurate calculation tailored to your situation, it’s recommended to contact a mortgage broker in Cambridge like us who can guide you through the stamp duty process in detail.

Will I have to pay Stamp Duty in Cambridge?

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Stamp Duty Land Tax (SDLT) is payable by anyone purchasing a property in Cambridge, or across England and Northern Ireland, with a purchase price above a certain threshold.

First time buyers may be eligible for relief, meaning they could pay a reduced amount or no stamp duty at all, depending on the property value.

Buyers of additional properties, such as buy to let or second homes, may face higher rates.

How is Stamp Duty calculated in Cambridge?

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Stamp Duty is calculated based on the purchase price of the property you’re buying in Cambridge.

The rates are applied in tiers, meaning different portions of the property price are taxed at different rates. For example, the first portion of the property’s price may be taxed at 0%, with higher portions taxed at increasing rates.

The Stamp Duty Calculator provides an estimate based on these tiered rates, but for an exact amount, it’s important to speak with a mortgage advisor in Cambridge.

Can I add Stamp Duty to my mortgage in Cambridge?

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Some lenders may allow you to add the cost of Stamp Duty to your mortgage, but this will depend on their specific policies and your borrowing capacity

If you do add it to your mortgage, it will increase your loan amount, meaning you will also pay interest on the Stamp Duty portion over the life of the mortgage.

It’s advisable to discuss this option with a mortgage broker in Cambridge like us to see if it’s suitable for your financial situation.

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