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Stamp Duty on £350,000 Property

Calculate stamp duty on a £350,000 property

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Standard rates apply - replacing main residence

Disclaimer: This tool does not constitute financial advice. We do not recommend taking actions based solely on these results. The calculator makes assumptions and results may be inaccurate due to changes in government policy, interest rates, or personal circumstances. You use this information at your own risk. We can't guarantee to be perfect, so do note you use the information at your own risk and we can't accept liability if things go wrong. For official guidance, visit Gov UK.

Quick Answer: Stamp Duty on £350,000

First-Time Buyer

£2,500

Standard Buyer

£7,500

2.14% effective rate

Additional Property

£25,000

Includes 5% surcharge

How Stamp Duty is Calculated on £350,000

Stamp duty is calculated using tiered rates. You pay different percentages on different portions of the property price, similar to income tax bands.

Standard Buyer Breakdown

BandRateAmountTax
£0 - £125,0000%£125,000£0
£125,000 - £250,0002%£125,000£2,500
£250,000 - £350,0005%£100,000£5,000
Total Stamp Duty£7,500

Additional Property Breakdown

ComponentAmount
Base Stamp Duty£7,500
5% Additional Property Surcharge+£17,500
Total (Additional Property)£25,000

First-Time Buyer Relief

First-time buyers pay £2,500 on a £350,000 property. You only pay 5% on the portion above £300,000.

First £300,000£0 (0%)
Remaining £50,000£2,500 (5%)
Saving vs Standard£5,000

Tips for Buyers at This Price Point

  • First-time buyers: You're eligible for relief. Make sure you haven't owned property anywhere in the world before.
  • Negotiation tip: Consider negotiating the price down slightly to reduce your stamp duty bill.
  • Budget planning: Factor stamp duty of £7,500 into your total purchase costs alongside legal fees, surveys, and moving costs.

What Can You Buy for £350,000?

At £350,000 you are firmly in the territory of the average first-time buyer purchasing outside London. In the East Midlands, South West, and North West of England, £350,000 buys a three-bedroom semi-detached or detached house in a well-established suburb with good schools and transport links. In Edinburgh, this budget reaches a three-bedroom tenement flat in desirable areas like Morningside or Marchmont. In Bristol, £350,000 covers a two-bedroom terrace in popular neighbourhoods like Bedminster or Totterdown. On the outskirts of London (Zones 4–6), £350,000 typically delivers a one-bedroom flat or a small starter flat in areas like Croydon, Ilford, or Romford. This price point sits squarely within the first-time buyer relief range, meaning eligible buyers pay stamp duty only on the amount above £300,000. For home movers, the entire taxable portion falls within the standard SDLT band above the nil-rate threshold.

Total Cost of Buying at £350,000

When buying at £350,000, stamp duty is only one part of your total upfront cost. Budget separately for a solicitor's conveyancing fee (typically £1,200–£1,800 including searches and Land Registry fees), a survey (£350–£700 for a homebuyer report, up to £1,200 for a full structural survey on older properties), and removal costs (£800–£2,000 for a local move). If using a mortgage broker, their fee varies from £0 to £500. First-time buyers using a Lifetime ISA can withdraw the savings plus a government bonus of up to £1,000 per year (25% of contributions up to £4,000 annually) to help cover stamp duty and purchase costs. Total non-stamp-duty purchase costs at £350,000 typically run £3,000–£6,000, excluding the deposit.

Frequently Asked Questions

How much stamp duty on a £350,000 property?

For a £350,000 property in England: First-time buyers pay £2,500, standard home movers pay £7,500, and additional property buyers pay £25,000 including the 5% surcharge.

Do first-time buyers pay stamp duty on £350,000?

Yes, first-time buyers pay £2,500 on a £350,000 property. They pay 5% only on the amount above £300,000.

What is the stamp duty on a £350,000 second home?

The stamp duty on a £350,000 second home is £25,000. This includes the standard SDLT of £7,500 plus a 5% additional property surcharge of £17,500.

What is the effective stamp duty rate on £350,000?

For a £350,000 property, the effective stamp duty rate is 2.14% for standard buyers and 7.14% for additional property purchases.

Is £350,000 above the UK average house price?

Yes, £350,000 is above the UK average house price of approximately £285,000 as of early 2026. However, in many parts of England, particularly the South East, Greater London commuter zones, and major coastal cities, £350,000 is a common price for family homes. In Yorkshire, the Midlands, and the North West, £350,000 typically buys a more substantial property such as a four-bedroom detached house in a good area.

What deposit do I need for a £350,000 property?

Most lenders require a minimum 5% deposit (£17,500) on a £350,000 property, though 10% (£35,000) unlocks significantly better mortgage rates. First-time buyers with a 10% deposit need £35,000 plus stamp duty and purchase costs, a total of approximately £38,000–£43,000 depending on buyer type. A 20% deposit (£70,000) typically unlocks the best available mortgage rates and reduces monthly payments considerably.

Other Price Points

Related Guides

Note: These calculations are for properties in England and Northern Ireland. Scotland uses LBTT and Wales uses LTT with different rates.

Scotland LBTT Calculator →Wales LTT Calculator →