LTT on a £500,000 house in Wales
Buying a £500,000 home in Wales? A home mover pays £18,000 Land Transaction Tax, 3.6% of the price.
- Main rates
- £18,000
- Second home or buy-to-let
- £42,450
- Same price in England
- £15,000
- HMRC 2026/27 rates
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LTT on a £500,000 property in Wales is £18,000 for a home mover and £42,450 for a second home or buy-to-let.
How £18,000 is worked out
| Portion of the price | Rate | Tax |
|---|---|---|
| £0 to £225,000 | 0% | £0 |
| £225,000 to £400,000 | 6% | £10,500 |
| £400,000 to £500,000 | 8% | £7,500 |
| Total stamp duty | 3.6% | £18,000 |
£500,000 across the UK
Property tax on a home mover's £500,000 purchase in each nation. Wales has the highest nil rate band at £225,000, so cheaper homes pay less than in England.
The rest of a £500,000 purchase
With a 10% deposit you would borrow about £450,000. At 4.5% over 25 years that is £2,501 a month (see a £450,000 mortgage). Most lenders would want a household income of around £100,000: what £100,000 can borrow.
LTT on nearby prices
Questions people ask
Do first-time buyers pay less LTT on £500,000?
No. Wales has no first-time buyer relief, so first-time buyers pay the same £18,000 as anyone else. The nil rate band is already £225,000 for everyone.
How much LTT is due on a £500,000 second home or buy-to-let?
£42,450, using the higher residential rates that start at 5% from the first pound.
How does Wales compare with England on £500,000?
In England a home mover pays £15,000 stamp duty on £500,000, £3,000 less than the £18,000 LTT in Wales.