Property⚡ Quick Answer — Stamp Duty on a £350,000 House
| First-Time Buyer | £2,500 |
| Home Mover / Standard | £7,500 |
| Additional Property / BTL | £25,000 |
England & NI rates from April 2025. Get your exact figure →
At £350,000, stamp duty starts to feel like a real expense. First-time buyers benefit from FTB relief but still pay £2,500, standard buyers face a £7,500 bill, and additional property buyers are looking at a hefty £25,000.
This guide breaks down every scenario, compares across all UK nations, and shows you the complete picture: how much you'll actually spend from deposit to your first mortgage payment.
How Is Stamp Duty Calculated on a £350,000 House?
Stamp Duty Land Tax (SDLT) in England and Northern Ireland is calculated in bands — similar to income tax. You only pay the higher rate on the portion of the price that falls within each band. Here's how a standard buyer (not first-time, not additional property) is taxed on £350,000:
| Price Band | Rate | Taxable Amount | Tax Due |
|---|---|---|---|
| £0 – £125,000 | 0% | £125,000 | £0 |
| £125,001 – £250,000 | 2% | £125,000 | £2,500 |
| £250,001 – £925,000 | 5% | £100,000 | £5,000 |
| Total SDLT | £7,500 | ||
That's an effective tax rate of 2.1% on the purchase price. Use our stamp duty calculator to check a different figure instantly.
First-Time Buyer Stamp Duty on £350,000
First-time buyers benefit from a generous nil-rate band of £300,000. On a £350,000 property, you'll pay 0% on the first £300,000 and 5% on the remaining £50,000, giving a total of £2,500.
That's a saving of £5,000 compared with the standard rate — a meaningful reduction that helps offset other buying costs.
To qualify for first-time buyer relief, neither you nor anyone you're buying with can have owned a residential property anywhere in the world — including inherited property. Your solicitor will need to confirm your eligibility on the SDLT return.
Additional Property Stamp Duty on £350,000
Buying a second home, buy-to-let, or any additional residential property? You'll pay a 5% surcharge on top of the standard SDLT rates. The surcharge applies to the entire purchase price, not just the portion above the nil-rate band.
- Standard SDLT: £7,500
- 5% surcharge on £350,000: £17,500
- Total: £25,000 (effective rate: 7.1%)
That's a serious amount of tax. If you're buying a buy-to-let investment, make sure you've factored this into your rental yield calculations — it can take years to recoup through rental income alone.
Stamp Duty Comparison: England vs Scotland vs Wales
The UK doesn't have a single stamp duty system. Scotland and Wales each have their own versions with different rates and thresholds:
| Country | Tax Name | Standard | First-Time Buyer | Additional Property |
|---|---|---|---|---|
| England & NI | SDLT | £7,500 | £2,500 | £25,000 |
| Scotland | LBTT | £8,350 | £7,750 | £36,350 |
| Wales | LTT | £7,500 | N/A* | £24,950 |
*Wales doesn't offer specific first-time buyer LTT relief, though the £225,000 nil-rate band provides some benefit at lower prices.
Scotland's additional property surcharge (ADS) is particularly harsh at 8% — compared with 5% in England. If you're an investor considering Scottish property, factor in that higher cost carefully.
Who Typically Buys at £350,000?
At £350,000, you're in serious family home territory. This price gets you a three or four-bedroom detached house across the Midlands and North, a decent semi in London commuter towns, or a two-bed flat in popular city centres.
It's a common price for second-steppers — couples who bought a starter home at £200,000–£250,000 and are now moving up the ladder. Equity from their first property often covers both deposit and stamp duty.
Household income of £65,000–£78,000 typically supports a purchase at this level, assuming a 10% deposit and 4.5× income mortgage multiple.
Total Cost of Buying a £350,000 Property
Stamp duty is just one cost. Here's the full picture for a standard buyer with a 10% deposit:
| Cost | Amount |
|---|---|
| Deposit (10%) | £35,000 |
| Stamp Duty (SDLT) | £7,500 |
| Solicitor / Conveyancing | £2,200 |
| Survey (Homebuyer's Report) | £700 |
| Moving Costs | £1,000 |
| Total Cash Needed | £46,400 |
First-time buyers can replace the stamp duty figure with £2,500, reducing the total cash needed accordingly.
Monthly Mortgage Payments on a £350,000 House
What will you actually pay each month? Here are the figures at different deposit levels, based on a typical 4.5% interest rate over 25 years:
| Deposit | Deposit £ | Mortgage | Monthly Payment | Total Interest |
|---|---|---|---|---|
| 5% | £17,500 | £332,500 | £1,848.14 | £221,942 |
| 10% | £35,000 | £315,000 | £1,750.87 | £210,261 |
| 15% | £52,500 | £297,500 | £1,653.60 | £198,580 |
| 20% | £70,000 | £280,000 | £1,556.33 | £186,899 |
| 25% | £87,500 | £262,500 | £1,459.06 | £175,218 |
Based on 4.5% interest rate, 25-year term. Get your exact payment →
Smart Tips for Buying at £350,000
- FTBs still save big. Relief knocks £5,000 off your stamp duty bill — that's a proper chunk of your moving budget saved.
- Room to grow before the FTB cliff. FTB relief works up to £500,000, so at £350,000 you've got comfortable headroom. But keep the £500,000 cap in mind if you're tempted to stretch further.
- Consider overpaying early. At this borrowing level, even £100/month in mortgage overpayments can shave years off the term and save tens of thousands in interest. See our overpayment guide.
- Get multiple quotes. On a £315,000 mortgage, a 0.1% rate difference saves over £4,000 over 25 years. Always compare.