First-time Buyer in London — How Much Stamp Duty?
London prices push almost all first-time buyers into the FTB band. Real numbers for £450k, £500k, and £600k flats.
London's average first-time buyer property price sits around £475,000 — squarely in the band where the £500k cliff edge does the most damage.
£450,000 one-bed flat (Zone 3): First-time buyer relief applies. £150,000 over £300k × 5% = £7,500 stamp duty.
£500,000 one-bed flat (Zone 2): Still gets relief. £200,000 × 5% = £10,000.
£600,000 two-bed flat (Zone 2/3): Over the £500k cliff. No FTB relief. Standard rates: 0% on £125k + 2% × £125k (£2,500) + 5% × £350k (£17,500) = £20,000. The extra £100k of property cost £10,000 more in tax — half the price increase is tax.
Negotiation reality. If you're looking at a £510k flat as a first-time buyer, every £1,000 you can shave off the price below £500,000 saves you about £550 in tax until you hit the relief cap. After that the marginal saving drops back to 5%.
Help to Buy / shared ownership note. Stamp duty on shared ownership can be paid two ways: (1) on the share you initially buy, or (2) on the full market value. Election (2) often makes sense for long-term plans but locks in a higher upfront cost. Talk to your conveyancer.
This was modelled with the calculator on the home page — change the inputs to fit your scenario.
한국어 버전
런던 첫 매수자, 인지세 얼마인가?
런던 가격대는 첫 매수자 대부분이 FTB 구간에 걸려요. £45만~£60만 플랫 실제 사례.
런던 첫 매수자 평균 매물 가격이 £475,000 정도 — £500k 절벽이 가장 아프게 작동하는 구간.
£450,000 1베드 플랫 (3존): FTB 감면 적용. £300k 초과 £150,000 × 5% = £7,500.
£500,000 1베드 플랫 (2존): 감면 적용. £200,000 × 5% = £10,000.
£600,000 2베드 플랫 (2/3존): £500k 절벽 초과. 감면 없음. 표준 세율: 0% × £125k + 2% × £125k(£2,500) + 5% × £350k(£17,500) = £20,000. £100k 더 비싼 매물 사면 세금이 £10,000 더 — 가격 인상분의 절반이 세금.
협상 현실. £510k 플랫 보고 있는 첫 매수자라면, £500,000 아래로 £1,000 깎을 때마다 약 £550씩 세금 절감 (감면 한도 내). 그 이후엔 한계 절감이 5%로 떨어짐.
Help to Buy / 공유 소유. 공유 소유 인지세는 두 방식: (1) 초기 매수 지분에만, (2) 전체 시장가에. 장기 거주 계획이면 (2)가 유리할 때가 많지만 초기 부담이 커요. 컨베이언서와 상의.
이 시뮬레이션은 홈페이지 계산기에서 직접 — 본인 상황에 맞게 입력값 변경.