Buying a home in England: the legal steps and stamp duty
Most purchases take between three and four months from offer to completion. Knowing the steps, the stamp duty and the ownership decisions in advance avoids delays and costly mistakes.
By Robert Festenstein, Head of Legal
Updated 26 October 2026
4 min read
Key takeaways
- Contracts become binding at exchange, when the deposit is paid. Before then, either side can withdraw.
- Stamp duty land tax in England is charged from 2% on the part of the price above £125,000, with lower rates for first-time buyers.
- Buying an additional home adds a 5% surcharge to every band.
- Couples should decide whether to own as joint tenants or tenants in common before completion.
From offer to completion
- Offer accepted. Instruct a solicitor, provide identification and confirm the source of your deposit, which the solicitor must check.
- Contract pack and searches. The seller's solicitor sends the draft contract, title documents and property information forms. Your solicitor orders local authority, drainage and environmental searches.
- Enquiries and survey. Your solicitor raises questions on anything unclear. Arrange your own survey, which is separate from the lender's valuation.
- Mortgage offer. The lender issues its offer, and your solicitor checks its conditions.
- Exchange of contracts. You sign the contract and pay the deposit, often 10%. From this point both sides are legally bound and the completion date is fixed.
- Completion. The balance is paid, keys are released and you own the property.
- After completion. Your solicitor files the stamp duty return within 14 days and registers you as owner at HM Land Registry.
Stamp duty land tax
For residential purchases in England and Northern Ireland from 1 April 2025, stamp duty is charged on each part of the price:
- 0% up to £125,000;
- 2% from £125,001 to £250,000;
- 5% from £250,001 to £925,000;
- 10% from £925,001 to £1.5 million;
- 12% above £1.5 million.
First-time buyers pay nothing up to £300,000 and 5% from £300,001 to £500,000, provided the price is no more than £500,000. If you will own more than one residential property after the purchase, a 5% surcharge applies to every band, unless the purchase replaces your main home. It can be reclaimed if you sell your previous main home within three years. Buyers who have spent fewer than 183 days in the UK in the previous 12 months pay a further 2%. Scotland and Wales have their own taxes and rates.
Talk to us about your position
Book a no-obligation consultation with the Totus One team.
How you own the property
If you buy with someone else, you choose between joint tenants, where the whole property passes to the survivor automatically, and tenants in common, where each owns a share that passes under their will. Where contributions to the deposit are unequal, a declaration of trust records each person's share. This is especially important for unmarried couples and where parents have helped with the deposit. See gifting to children.
Leasehold flats and houses
For a leasehold property, your solicitor checks the length of the lease, the ground rent and service charges, the management company and any planned major works. Under the current rules, a lease below about 80 years can make the property harder to mortgage and more expensive to extend. The Leasehold and Freehold Reform Act 2024 will change how lease extensions are priced once those parts of it come into force. Ask for the information early, because managing agents can be slow to respond.
A home purchase affects your will, your inheritance tax position and how you would pass the home on. We deal with the conveyancing and update your will at the same time.
Frequently asked questions
How long does conveyancing take?
Usually between three and four months from offer to completion, depending on the chain, searches and mortgage.
When is a property purchase legally binding?
At exchange of contracts, when the deposit is paid and the completion date is fixed.
How much stamp duty will I pay?
In England, nothing on the first £125,000, then 2%, 5%, 10% and 12% on higher portions. First-time buyers pay nothing up to £300,000 on homes costing up to £500,000.
Do I pay extra stamp duty on a second home?
Yes. A 5% surcharge applies to each band if you will own more than one residential property after the purchase, unless it replaces your main home.
Sources & further reading
This article is general information, not advice. Tax, financial and legal rules change and their effect depends on your circumstances. Check the current position and take professional advice before acting. Last reviewed 26 October 2026. Totus One Limited (company no. 16855798).
A solicitor who has led his own SRA-regulated practice for over two decades, specialising in disputes and insolvency.
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