Why £500,000 and £500,001 are not equivalent
At exactly £500,000, the England first-time buyer calculation is £10,000. At £500,001, the engine calculates £15,000 because the purchase is above the relief price limit.
That one-pound comparison isolates the eligibility boundary; it does not imply that every first-time buyer or transaction qualifies at £500,000.
Deposit scale at half a million pounds
Every five percentage points of deposit equals £25,000 at this price. The larger cash increments make it especially important to keep transaction costs separate from the deposit target.
The table below shows deposit and illustrative borrowing at £500,000, with columns for Deposit, Cash deposit, and Illustrative mortgage.
| Deposit | Cash deposit | Illustrative mortgage |
|---|---|---|
| 5% | £25,000 | £475,000 |
| 10% | £50,000 | £450,000 |
| 15% | £75,000 | £425,000 |
| 20% | £100,000 | £400,000 |
On smaller screens, scroll sideways to view every column clearly.
Four tax systems and buyer positions
The England home-mover example has £15,000 SDLT, Scotland has £23,350 LBTT and Wales has £18,000 LTT.
Under the broader England home-mover assumptions, cash above the deposit is £21,035. Quotes and optional choices can change that figure.
The table below shows £500,000 tax and cash comparison, with columns for Scenario, Property tax, and Estimated cash with 10% deposit.
| Scenario | Property tax | Estimated cash with 10% deposit |
|---|---|---|
| England first-time buyer | £10,000 | £66,035 |
| England home mover | £15,000 | £71,035 |
| Northern Ireland home mover | £15,000 | £71,375 |
| Scotland home mover | £23,350 | £79,763 |
| Wales home mover | £18,000 | £74,024 |
On smaller screens, scroll sideways to view every column clearly.
Run the exact £500,000 buyer-status scenario
Use the calculator's buyer-type control carefully at this threshold and replace estimate-led lines with live quotes.
Go to the calculatorCompare nearby property prices
If you are budgeting around this price point, it can help to compare nearby price points because deposit size, tax treatment and total upfront cash can change quickly.
FAQ
Questions buyers usually ask
Can a first-time buyer get SDLT relief at £500,000?
The calculator applies the relief bands at exactly £500,000 and returns £10,000 for an eligible England first-time buyer. Eligibility ends when the price exceeds £500,000.
What is a 15% deposit on £500,000?
It is £75,000, leaving an illustrative mortgage of £425,000.
How much is needed beyond a £50,000 deposit?
The England home-mover planning example adds £21,035 above the 10% deposit under its stated settings.
Editorial record
- Page reviewed
- 19 July 2026
- Calculator data
- 2026.07.1
Official charges use linked public rules; quote-led figures remain planning assumptions until you replace them. Read the source and calculation method or report an error.