I’m Charles Calvert, a mortgage broker at Easy Mortgages. This is general information, not personal advice. Always check the figures against your own situation before you decide anything.
Stamp duty land tax (SDLT) in England is one of the biggest cash costs alongside your deposit. First-time buyers in Hampshire often ask what they will actually pay — and the answer depends on the purchase price and the rules in force when you complete, not when you first viewed the property.
The temporary stamp duty holiday that reduced bills through much of the pandemic has already ended for most buyers. What matters now is the standard SDLT framework plus any first-time buyer relief that still applies to your purchase.
Why you should not rely on memory
First-time buyer relief thresholds have changed more than once in recent years. What applied to a friend who completed in 2020 or early 2021 is not a safe guide for a purchase completing now. Before you offer on a Fareham, Gosport, Portsmouth or Southampton home, check the current calculator on GOV.UK / HMRC. This article explains the idea in plain English; it is not a live tax calculation for your completion date.
How first-time buyer relief works
For qualifying first-time buyers, relief typically means no SDLT on the portion of the price up to a set threshold, with a reduced rate on the next band up to a higher cap — and standard treatment above that. Under the rules in force through early 2022, many first-time buyers look first at whether the price sits within the nil-rate first-time buyer band (widely discussed at £300,000) and how any slice above that is taxed up to the relief cap (widely discussed at £500,000). Always confirm on GOV.UK before you budget, because figures and eligibility are set by HMRC, not by brokers.
If you have owned a home before — even abroad — you may not qualify as a first-time buyer for SDLT purposes. For joint buyers, both usually need to qualify. Married couples and civil partners have extra rules worth checking with your solicitor.
Hampshire price-band thinking
Many Gosport and some Fareham flats sit in bands where first-time buyer relief can make a large difference to cash needed at completion. Higher-value family homes in Whiteley, parts of Portchester or Southampton may cross thresholds where SDLT becomes a material line in the budget. Work the numbers on the exact asking price — and on a slightly higher fall-back price in case you negotiate differently — before you stretch the mortgage to the maximum.
Remember that stamp duty is due on top of your deposit and usual buying costs. A purchase that looks fine on monthly repayment alone can feel tight once every cash item is listed.
Budget checklist beyond SDLT
- Deposit at your target LTV.
- Stamp duty on the completion price using current HMRC rules.
- Solicitor and search fees.
- Survey or valuation extras your lender does not cover.
- Removals and initial repairs or furnishings.
- A contingency for delays or unexpected costs.
Second homes and higher rates
If you already own a property, different (often higher) SDLT rates can apply. That is outside the first-time buyer question but worth flagging early if your situation is not a clean first purchase. Your conveyancer confirms the tax position; a broker helps with the mortgage side.
Fees if we arrange your purchase mortgage
Your first chat comes with no fee and no obligation. If we arrange a purchase mortgage for you, my fee is £495, payable once you receive your full mortgage offer. Full details sit on the mortgages fees section.
Completion date is what counts
SDLT is calculated on the rules in force on the day you complete, using the purchase price in the contract. If your chain slips, and government thresholds or rates have changed in the meantime, your bill can change too. That is uncommon month to month, but it is why conveyancers re-check the figures near completion rather than treating an early estimate as final.
Reservation fees on new-builds, deposits paid to agents, and fixtures and fittings agreements can also affect what counts toward the chargeable consideration. Your solicitor confirms the tax treatment; budget with a little headroom rather than spending every pound of surplus on furniture.
Talking to your broker and solicitor together
I can help you map deposit and borrowing. Your conveyancer confirms the SDLT return. Getting both conversations started early stops last-minute scrambles when an offer is accepted on a Fareham or Gosport home.
Next step
Want to run stamp duty and deposit figures before you offer on a Hampshire home? Get in touch and we can map the cash you need alongside a realistic borrowing figure.
If you would like to talk this through for your own numbers, you can get in touch here or email contact@easy-mortgages.co.uk. I am based in Fareham and help clients across Hampshire.