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Stamp Duty on £950,000 Property

Calculate stamp duty on a £950,000 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 £950,000

First-Time Buyer

N/A

Above £625k threshold

Standard Buyer

£38,750

4.08% effective rate

Additional Property

£86,250

Includes 5% surcharge

How Stamp Duty is Calculated on £950,000

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 - £925,0005%£675,000£33,750
£925,000 - £950,00010%£25,000£2,500
Total Stamp Duty£38,750

Additional Property Breakdown

ComponentAmount
Base Stamp Duty£38,750
5% Additional Property Surcharge+£47,500
Total (Additional Property)£86,250

First-Time Buyer Relief

First-Time Buyer Relief Not Available

First-time buyer relief only applies to properties up to £500,000. At £950,000, first-time buyers pay the same rates as standard home movers: £38,750.

Tips for Buyers at This Price Point

  • Negotiation tip: Consider negotiating the price down slightly to reduce your stamp duty bill.
  • Budget planning: Factor stamp duty of £38,750 into your total purchase costs alongside legal fees, surveys, and moving costs.
  • Higher rate band: Part of this purchase falls into the 10% stamp duty band (£925,001 - £1.5m).

What Can You Buy for £950,000?

At £950,000, a purchase straddles the £925,001 SDLT threshold, meaning part of the taxable price is taxed at 10% and the remainder at 5%. In practical property terms, £950,000 in England's premium markets accesses country homes with acreage in desirable counties, large executive family homes in the commuter belt, and two-to-three-bedroom period houses in London zones 1–2. In prime central London postcodes (SW3, W1, EC1), £950,000 purchases a high-specification studio or a compact one-bedroom flat. Edinburgh's finest addresses, such as Charlotte Square, Moray Place, and Heriot Row, see Georgian townhouse apartments at this price. This price point requires careful strategic thinking: negotiating below £925,001 eliminates the 10% band entirely and materially reduces the SDLT bill.

Total Cost of Buying at £950,000

At £950,000, stamp duty includes both the 5% and 10% bands, creating a higher effective rate than properties priced just below £925,001. The financial case for negotiating the price downward is strongest here: a £25,001 reduction from £950,000 to £924,999 eliminates the 10% band entirely, saving approximately £2,500 in SDLT while reducing the mortgage amount. Total non-deposit buying costs at £950,000, including legal fees, a full structural survey, mortgage arrangement, lender valuation, and searches, typically range from £5,000–£10,000. A full structural survey is essential at this price; the cost (£700–£1,500) is minimal relative to the value of uncovering material defects before exchange.

Frequently Asked Questions

How much stamp duty on a £950,000 property?

For a £950,000 property in England: First-time buyers pay standard rates (no relief above £625k), standard home movers pay £38,750, and additional property buyers pay £86,250 including the 5% surcharge.

Do first-time buyers pay stamp duty on £950,000?

Yes, first-time buyers pay standard rates on a £950,000 property because it exceeds the £500,000 threshold for first-time buyer relief. They would pay £38,750.

What is the stamp duty on a £950,000 second home?

The stamp duty on a £950,000 second home is £86,250. This includes the standard SDLT of £38,750 plus a 5% additional property surcharge of £47,500.

What is the effective stamp duty rate on £950,000?

For a £950,000 property, the effective stamp duty rate is 4.08% for standard buyers and 9.08% for additional property purchases.

How much extra stamp duty do I pay by crossing £925,001?

In England, crossing the £925,001 SDLT threshold means paying 10% (rather than 5%) on every pound above that point. At £950,000, the 10% band applies to £24,999 (£950,000 minus £925,001), costing an additional £2,500 in stamp duty compared to a property priced at £924,999. This is why many properties are listed at prices like £899,995 or £924,995, to keep buyers comfortably below the threshold.

Should I buy at £950,000 or negotiate below £925,000?

If a seller is asking £950,000, negotiating to £924,999 saves the buyer approximately £2,500 in SDLT, but the seller receives £25,001 less. Whether this works depends on market conditions and seller motivation. In a buyer's market it is worth proposing directly; in a competitive seller's market it is unlikely to succeed. An alternative is to offer the asking price but request fixtures, fittings, or agreed repairs to offset the additional stamp duty cost.

Other Price Points

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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 →