UK Mortgage Glossary
Land Transaction Tax (LTT)
Wales's equivalent of Stamp Duty.
Full definition
Wales's replacement for Stamp Duty Land Tax. Standard nil-rate band up to £225,000. No specific first-time buyer relief. Higher rates rise to 12% on portions above £1.5m. The higher rate for additional properties is currently 5%.
How this affects you
Whether land transaction tax (ltt) 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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