New Stamp Duty Rates for Second Homes

19th March 2016

On 01 April 2016, The Treasury will introduce new stamp duty rates for anyone purchasing a second home.

Those affected by the increase in stamp duty include anyone buying a holiday home, purchasing a buy to let investment, parents purchasing for their children and couples who are purchasing a home together where one of them may already own a home.  Also affected is anyone who is purchasing a property in England, Wales or Northern Ireland for the first time but already own a home elsewhere .

The new rates are 3% above the current residential rates:

Band Existing rate Proposed Rate
£0 – £125K 0% 3%
£125K – £250K 2% 5%
£250K – £925K 5% 8%
£925K – £1.5M 10% 13%
£1.5M + 12% 15%

There are some exceptions that do not fall into the new rates:

  • Caravans, mobile homes and houseboats
  • Property worth less than £40,000
  • Social Landlords
  • Multiple purchases – any company who already owns 15 properties

The higher rates will apply to purchases of buy to let and second home with a completion date on or after 1st April 2016.

Read More Journals

Can AI Value Property? Why Human Expertise and Local Knowledge Still Matter

18th June 2026
Read more

RICS Valuation vs Estate Agent Appraisal: What’s the Difference?

3rd June 2026
Read more

The Results Are In: Why Clients Choose Us

28th May 2026
Read more

Why the Right Estate Agent Matters More Than Ever

Read more

EPC Regulations and Property Values: Why Energy Efficiency is Becoming Increasingly Important

18th May 2026
Read more

 Confirmation of email sent

Thank You

Thank you for contacting us, a member of our team will be with you shortly.