Scenario Breakdown
Stamp Duty on
£350,000
Tax Year
2025/26
Standard SDLT
£7,500
Buying a property at £350,000? Here is exactly how much stamp duty you will pay under each buyer type. Standard buyers owe £7,500, first-time buyers pay just £2,500 (saving £5,000), and additional property purchases cost £18,000. Adjust the slider below to recalculate for a different price.
Property Price
Standard Buyer
Total SDLT Due
£7,500
Effective Rate
2.1%
Property Price
£350,000
First-Time Buyer
Total SDLT Due
£2,500
Effective Rate
0.7%
FTB Saving
£5,000
Additional Property (+3%)
Total SDLT Due
£18,000
Effective Rate
5.1%
Surcharge Cost
£10,500
At-a-Glance Comparison
| Buyer Type | Total SDLT | Effective Rate | vs Standard |
|---|
How stamp duty works on a £350,000 property
Stamp Duty Land Tax (SDLT) is a progressive tax, meaning you only pay each rate on the portion of the price that falls within that band. On a £350,000 property, a standard buyer pays nothing on the first £125,000, 2% on the next £125,000 (£2,500) and 5% on the remaining £100,000 (£5,000). The total comes to £7,500, giving an effective rate of 2.1%.
SDLT applies to residential property purchases in England and Northern Ireland. Scotland uses Land and Buildings Transaction Tax (LBTT) and Wales uses Land Transaction Tax (LTT), each with their own thresholds and rates.
The tax is due within 14 days of completion. Your solicitor or conveyancer will normally handle the SDLT return and payment to HMRC on your behalf.
First-time buyer stamp duty relief on £350,000
If you are a first-time buyer, you benefit from a higher nil-rate threshold. From April 2025, you pay no SDLT on the first £300,000, provided the property costs no more than £500,000. On a £350,000 purchase, only £50,000 is taxable at 5%, making your total bill just £2,500.
That is a saving of £5,000 compared with the standard rate. To qualify, neither you nor anyone you are buying with can have previously owned a residential property anywhere in the world. The relief is automatic — your solicitor claims it on the SDLT return.
If you are buying jointly with someone who already owns a property, you will not qualify for first-time buyer relief and standard rates will apply instead.
Additional property stamp duty on £350,000
Buying a second home, holiday let or buy-to-let property at £350,000 triggers the additional property surcharge. The 3% surcharge is added on top of each standard band, resulting in rates of 3% on the first £125,000, 5% on £125,001–£250,000 and 8% on £250,001–£350,000.
The total comes to £18,000 — that is £10,500 more than a standard buyer would pay. The surcharge applies from the first pound, so there is no nil-rate band for additional property purchases.
You may be able to reclaim the surcharge if you sell your previous main residence within 36 months of completing on the new property. Speak to your solicitor about the reclaim process.
Budgeting for stamp duty on a £350,000 purchase
Stamp duty is just one of several costs to factor in when buying a property at £350,000. You should also budget for solicitor fees (typically £1,000–£2,000), a survey (£300–£800), mortgage arrangement fees, and removal costs.
As a rough guide, total buying costs on a £350,000 property often range from £10,000 to £15,000 for a standard buyer, or around £5,000 to £10,000 for a first-time buyer once stamp duty relief is applied.
Some lenders allow you to add stamp duty to your mortgage, but this increases your loan-to-value ratio, your monthly payments and the total interest paid over the term. Most financial advisers recommend paying it separately if you can.
Frequently asked questions
How much stamp duty do I pay on a £350,000 house?
A standard buyer pays £7,500 in stamp duty on a £350,000 property. This is made up of 0% on the first £125,000 (£0), 2% on £125,001–£250,000 (£2,500) and 5% on £250,001–£350,000 (£5,000). The effective tax rate is 2.1%.
What is the stamp duty on 350k for a first-time buyer?
First-time buyers pay just £2,500 in stamp duty on a £350,000 property. You pay 0% on the first £300,000 and 5% on the remaining £50,000. This saves you £5,000 compared with standard rates.
How much stamp duty on a 350k second home?
Buying a £350,000 property as an additional home or buy-to-let costs £18,000 in stamp duty. The 3% surcharge is added to every standard band, giving rates of 3% on the first £125,000, 5% on £125,001–£250,000 and 8% on £250,001–£350,000.
What is the effective stamp duty rate on a 350k property?
The effective stamp duty rate on a £350,000 property is 2.1% for standard buyers, 0.7% for first-time buyers and 5.1% for additional property purchases. The effective rate shows the total tax as a percentage of the purchase price.
How much do first-time buyers save on stamp duty at 350k?
First-time buyers save £5,000 on stamp duty when purchasing a £350,000 property. They pay £2,500 instead of the standard £7,500, thanks to the nil-rate threshold of £300,000 available on properties priced up to £500,000.
When do I pay stamp duty on a £350,000 purchase?
Stamp duty must be paid within 14 days of completion. Your solicitor or conveyancer will normally submit the SDLT return and arrange payment to HMRC on your behalf as part of the conveyancing process.