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First-Time Buyer Relief

First-Time Buyer Relief

Portrait of Justin Whitelock, founder of Mortgage London, standing in a park

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

An SDLT relief that can apply when a buyer is purchasing their first residential property in England or Northern Ireland, offering a £300,000 nil-rate threshold.

Related glossary terms

Non-Resident SDLT Surcharge

An additional 2% SDLT charge in England and Northern Ireland when a buyer is treated as non-UK resident, based on 183-day UK presence test.

Stable Currency

An informal lender label for currencies regarded as relatively reliable for affordability assessment, such as the US dollar, euro, or Swiss franc.

Non-Resident Landlord Scheme (NRLS)

An HMRC scheme that applies to landlords whose usual place of abode is outside the UK, involving tax deduction on rental income.

Deposit from Abroad

Mortgage deposits funded from overseas sources, typically requiring clear source-of-funds evidence, bank statements, and sometimes proof the funds have been transferred into a UK account.