UK Mortgage Glossary
Land and Buildings Transaction Tax (LBTT)
Scotland's equivalent of Stamp Duty.
Full definition
Scotland's replacement for Stamp Duty Land Tax. Standard nil-rate band up to £145,000 (£175,000 for first-time buyers). Higher rates rise to 12% on portions above £750,000. The Additional Dwelling Supplement of 8% applies to BTL and second-home purchases.
How this affects you
Whether land and buildings transaction tax (lbtt) is relevant to your mortgage depends on your circumstances — lender, product, deposit, employment, credit profile, and stage of application. An FCA-authorised mortgage broker will tell you exactly where it applies to your case.
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