Royal Bank mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Land and Buildings Transaction Tax changes
Land and buildings transaction tax (LBTT) replaced Stamp Duty in Scotland in 2015. It applies to residential and commercial land and buildings transactions.
Following a period of reduced LBTT as a result of the pandemic, rates have now returned to pre-pandemic levels. That means that, in Scotland, LBTT becomes payable on properties worth over £145,000.
How much will I have to pay?
You can find out the exact amount you may have to pay on the property you're buying using the calculator from Revenue Scotland.
Costs for second home owners
If you're buying an additional residential property in Scotland, including rental properties, second homes and holiday homes, you may have to pay the Additional Dwelling Supplement. You'll pay this additional amount unless the main or second property costs less than £40,000.
How do I pay for LBTT?
With any big purchase, it's important to work out your budget. It's best not to borrow more money on your mortgage to cover LBTT, as this could affect your loan to value ratio.
It's a good idea to make sure you have the cash to pay for LBTT before you make an offer on a property. You can use our budget calculator to see how to cover this cost.
Your solicitor will usually calculate and collect the LBTT in advance, but it's legally the buyers' responsibility to make sure it's paid on time.
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