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Arranging your finances

Lochy home office

Get your mortgage in place

It’s always a good idea to have your mortgage in place before you pay a reservation fee on a new home. So if you need the name of an independent financial adviser, we’re happy to help. Choose the development you are interested in then contact the sales executive and they can recommend a financial adviser to you. A financial adviser will also be able to talk you through first time buyer mortgage rates and government schemes that can help you get on the property ladder.

LBTT Rates

Land & Buildings Tax (LBTT), which replaced UK Stamp Duty, is charged by the Scottish Government if you buy a residential property. Tax is payable at different rates on each portion of the purchase price within specified tax bands.

  • Up to £145,000 - 0%
  • Above £145,000 to £250,000 - 2%
  • Above £250,000 to £325,000 - 5%
  • Above £325,000 to £750,000 - 10%
  • Over £750,000 - 12%

For transactions from 1 April 2021 onwards, the ceiling of the nil-rate band for residential LBTT is £145,000.

Since 30 June 2018, first-time buyers in Scotland have benefited from a relief on LBTT. The relief effectively raises the starting threshold for first-time buyers from £145,000 to £175,000.

If you are buying an additional residential property in Scotland (such as buy-to-let or second home) of £40,000 or more, the Additional Dwelling Supplement (ADS) of LBTT applies.

The ADS is charged at 6% of the total purchase price.

Full information on LBTT, including a LBTT calculator, can be accessed on the Revenue Scotland website.