Clever Mortgages is now part of Oak Mortgages Limited.
Don’t worry, you’ll still be looked after by the same friendly, experienced team you know and trust. We’re here to guide you every step of the way on your mortgage journey.
Trustindex verifies that the original source of the review is Google.
They were very very professional and always willing and ready to respond to all my queries, guided me through this process simlessly. I am happy I used their services.
I will also like to give a special appreciation to Vicki Redley she was very great and an amazing individual as she guided me all through the process.
Posted on Google
Ifenkwe Grace
Trustindex verifies that the original source of the review is Google.
Well so far the experience with you guys has been pretty great
Posted on Google
Hannah Vivian
Trustindex verifies that the original source of the review is Google.
Recently had Abby as our broker, who was super friendly and made the process smooth and easy. Thank you
Posted on Google
Stephen Dowding
Trustindex verifies that the original source of the review is Google.
My experience of Oak Mortgages has been unfailingly amazing. Abby is WONDERFUL at her job: super-kind, expert and patient and a huge credit to the company.
Posted on Google
G S
Trustindex verifies that the original source of the review is Google.
From the very first contact through (what was a complex and hugely frustrating conveyancing process), to the day of completion, Oak Mortgages were the shining light that got us through.
Sarah and her team were brilliant.
They were responsive, caring, empathetic, knowledgeable, professional, and human at each and every stage.
We are so grateful that we used Sarah and Oak Mortgages and highly recommend them to anyone wanting to guarantee that authentic, trustworthy approach from professionals who care.
A top class act - 5 ⭐️⭐️⭐️⭐️⭐️
Posted on Google
DOBO and the Foodies
Trustindex verifies that the original source of the review is Google.
Awesome service, helped me at every step on a journey I never thought at 50 I could make! Sarah is amazing available whenever I needed her highly recommend
Posted on Google
Caoimhe Clarke
Trustindex verifies that the original source of the review is Google.
Thank you to Abby and the admin team at Oak Mortgages who have been fantastic in helping me secure a remortgage on my property. From my first phone call to Abby I was filled with confidence and the experience with the team was brilliant, especially when other companies involved were not so brilliant the Oak Mortgage team pulled out all the stops to make sure completion happened. I would highly recommend this company and will use their services in the future. Thank you again.
Posted on Google
Lisa Zuccotti
Trustindex verifies that the original source of the review is Google.
Excellent company to deal with , very efficient and caring ensured all our needs where met . Highly recommended.
Posted on Google
Reece Baird
Trustindex verifies that the original source of the review is Google.
claire.geraghty Amazing lady, helped me all the way to the finish line! Highly recommend!
Posted on Google
graham draper
Trustindex verifies that the original source of the review is Google.
Excellent service and advice throughout the whole process making for a very straightforward experience with special thanks to Abby and Ashleigh.
Verified by Trustindex
Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more
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If you’re buying a home in England or Northern Ireland you will have to pay Stamp Duty Land Tax on properties costing more than £250,000 (£425,000 for a first-time buyer). This guide explains how Stamp Duty works, and there is a calculator to help you calculate costs.
When buying a property, you may have to pay stamp duty so this cost should be taken into account when deciding on your budget and which home you can afford.
The rate of stamp duty you pay depends on the value of your property and whether you’ve bought a home before.
Stamp duty can be quite complex, so this guide will answer the following questions:
What is stamp duty?
How does stamp duty work and how much you pay?
How does stamp duty work for first-time buyers?
When do you pay stamp duty?
Can stamp duty be added to my mortgage?
What is stamp duty?
Stamp duty land tax – known in Scotland as land and buildings transaction tax – is a tax payment you have to pay when you buy a property or plot of land which costs more than a certain amount. The amount of stamp duty you pay depends on the type and price of property. It also varies when you buy a commercial building rather than a residential property.
Stamp duty is now paid on all homes which cost more than £250,000 in England or Northern Ireland. Unless you are a first time buyer.
Stamp Duty is paid at different rates, depending on the purchase price. For example, if you aren’t a first time buyer and you bought a property for £500,000 you would pay:
No stamp duty tax on the value of the property up to £250,000
5% stamp duty on the property value between £250,001 and £500,000
In this case, total liability for Stamp Duty would be £12,500.
An extra 3% stamp duty is paid on top of the standard band rates for all second homes.
If you’re a first-time buyer in England and Wales and purchase a property at up to £425,000, you’ll be exempt from paying stamp duty on the first £425,000. Instead you’ll pay 5% on the proportion of the property between £425,001 to £625,000.
If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.
Stamp Duty is payable within 30 days of completion (when all the contracts are signed and dated and you have your keys). Solicitors will normally pay the tax on your behalf and add to their fees.
Clever Mortgages will help you throughout your property purchase and explain further about stamp duty. Get in touch now for all your mortgage enquiries.
It is possible to add Stamp Duty to your mortgage, but it’s important to note that this will incur interest over the duration of the mortgage term, and will also affect your loan to value ratio (LTV).
Correct as of 23/09/2022
If you’re buying your first home
You can claim a discount (relief) if the property you buy is your first home. This means you’ll pay:
no SDLT up to £425,000
5% SDLT on the portion from £425,001 to £625,000
You’re eligible if you and anyone else you’re buying with are first-time buyers.
If the price is over £625,000, you cannot claim the relief. Follow the rules for people who’ve bought a home before.
Example
You are a first-time buyer and purchase a property for £500,000. The SDLT you owe will be calculated as:
Clever Mortgages is now part of Oak Mortgages Limited.
Don’t worry, you’ll still be looked after by the same friendly, experienced team you know and trust. We’re here to guide you every step of the way on your mortgage journey.
Trustindex verifies that the original source of the review is Google.
They were very very professional and always willing and ready to respond to all my queries, guided me through this process simlessly. I am happy I used their services.
I will also like to give a special appreciation to Vicki Redley she was very great and an amazing individual as she guided me all through the process.
Posted on Google
Ifenkwe Grace
Trustindex verifies that the original source of the review is Google.
Well so far the experience with you guys has been pretty great
Posted on Google
Hannah Vivian
Trustindex verifies that the original source of the review is Google.
Recently had Abby as our broker, who was super friendly and made the process smooth and easy. Thank you
Posted on Google
Stephen Dowding
Trustindex verifies that the original source of the review is Google.
My experience of Oak Mortgages has been unfailingly amazing. Abby is WONDERFUL at her job: super-kind, expert and patient and a huge credit to the company.
Posted on Google
G S
Trustindex verifies that the original source of the review is Google.
From the very first contact through (what was a complex and hugely frustrating conveyancing process), to the day of completion, Oak Mortgages were the shining light that got us through.
Sarah and her team were brilliant.
They were responsive, caring, empathetic, knowledgeable, professional, and human at each and every stage.
We are so grateful that we used Sarah and Oak Mortgages and highly recommend them to anyone wanting to guarantee that authentic, trustworthy approach from professionals who care.
A top class act - 5 ⭐️⭐️⭐️⭐️⭐️
Posted on Google
DOBO and the Foodies
Trustindex verifies that the original source of the review is Google.
Awesome service, helped me at every step on a journey I never thought at 50 I could make! Sarah is amazing available whenever I needed her highly recommend
Posted on Google
Caoimhe Clarke
Trustindex verifies that the original source of the review is Google.
Thank you to Abby and the admin team at Oak Mortgages who have been fantastic in helping me secure a remortgage on my property. From my first phone call to Abby I was filled with confidence and the experience with the team was brilliant, especially when other companies involved were not so brilliant the Oak Mortgage team pulled out all the stops to make sure completion happened. I would highly recommend this company and will use their services in the future. Thank you again.
Posted on Google
Lisa Zuccotti
Trustindex verifies that the original source of the review is Google.
Excellent company to deal with , very efficient and caring ensured all our needs where met . Highly recommended.
Posted on Google
Reece Baird
Trustindex verifies that the original source of the review is Google.
claire.geraghty Amazing lady, helped me all the way to the finish line! Highly recommend!
Posted on Google
graham draper
Trustindex verifies that the original source of the review is Google.
Excellent service and advice throughout the whole process making for a very straightforward experience with special thanks to Abby and Ashleigh.
Verified by Trustindex
Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more
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