First-time buyer costs on £590,000 (2026/27)

First-time buyer costs on £590,000

Pre-filled for first-time buyer assumptions so you can compare against mover and second-home cases quickly.

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Guides for the costs at this price

What changes at this threshold?

Compare nearby price brackets with the same assumptions to see how tax and all-in totals move.

How a first-time buyer's £19,500 on £590,000 is worked out

First-time buyer relief swaps the normal bands for its own. For a first-time buyer at £590,000 the working is:

1. The first £125,000: £125,000 at 0% = £0
2. £125,001 to £250,000: £125,000 at 2% = £2,500
3. £250,001 to £590,000: £340,000 at 5% = £17,000
4. Total SDLT: £19,500, or 3.31% of the price

Source: GOV.UK: Stamp Duty rates for first-time buyers

The relief limit and £590,000

At £590,000 a first-time buyer gets no relief: it is only available up to £500,000, so the bill is the standard £19,500.

If the price came down to £500,000, a first-time buyer would pay £10,000: £9,500 less tax as well as £90,000 less on the price.

£590,000 is over the £450,000 Lifetime ISA price limit, so taking the money out for this purchase carries the 20.00% withdrawal charge.

Source: GOV.UK: Lifetime ISA withdrawal charges

Cash a first-time buyer needs at £590,000

On top of the deposit a first-time buyer needs about £21,940 to £24,190: the £19,500 Stamp Duty, conveyancing (£1,640 average 2026 freehold quote at this price), a RICS Level 2 survey (£800 to £1,000) and up to £2,050 of mortgage fees. A fee-free mortgage gives the lower end.

Lenders set their own deposit rules. Conveyancing from Compare My Move; survey and mortgage fees from HomeOwners Alliance.

A first-time buyer at £590,000 in Scotland and Wales

In Scotland a first-time buyer pays £31,750 LBTT at £590,000: the relief there has no price limit but is worth at most £600.

Wales has no first-time buyer relief, so a first-time buyer pays the full £24,750 LTT. In England and Northern Ireland the same buyer pays £19,500.

Source: Revenue Scotland: Land and Buildings Transaction Tax · Welsh Government: Land Transaction Tax rates and bands

First-time buyer prices either side of £590,000

The first-time buyer column is the one to watch: the relief is lost on the whole price above £500,000.

England and Northern Ireland, 2026/27 rates, from the same calculator as the figures above.

Monthly mortgage on a £590,000 first home

Most first-time buyers borrow most of the £590,000. The table shows the mortgage left after a 5%, 10% and 15% deposit and what it would cost each month. The £19,500 Stamp Duty and the fees are paid from savings on top of the deposit, unless the lender lets you add its own fees to the loan.

Above £500,000 a first-time buyer is taxed like anyone else: £19,500 at £590,000. A purchase at £500,000 would cost £10,000, so the relief is worth £9,500 to a buyer who can find a home £90,000 cheaper.

Monthly repayments use an example 5% rate over 30 years, capital and interest. They are not a quote: your lender's rate and term set the real figure.

Registering your first home at £590,000

The £19,500 figure only applies if every buyer on the purchase is a first-time buyer: someone who has never owned a home in the UK or anywhere else. If one of you has, the purchase is taxed at the home mover rates, £19,500 at £590,000, the same figure at this price, unless that person still owns another home.

Registering a first home at £590,000 with HM Land Registry costs £295 through the portal or £655 by post (the £500,001 to £1,000,000 fee band).

Your conveyancer pays it after completion and adds it to the bill, so check that the quote shows it as a disbursement.

Source: HM Land Registry: registration services fees

Your First Home at £590,000

Your First Home is the government scheme for first-time buyers of new-build homes in England, with applications expected from February 2027. At £590,000 the minimum 2.5% deposit is £14,750, the government's 20% equity loan is £118,000 and the mortgage is £457,250.

At our example rate that mortgage costs about £2,455 a month in years 1 to 5, against £3,009 for a 95% mortgage of £560,500. The loan is interest free for 5 years, then adds about £148 a month in year 6 and £295 from year 7.

Local price caps apply and the full list is not published yet. Of the published examples, £590,000 is within the cap in Inner London.

Monthly repayments use an example 5% rate over 30 years, capital and interest. They are not a quote: your lender's rate and term set the real figure.

Source: GOV.UK: Your First Home

Where first-time buyers typically pay £590,000

In August 2026, the average first-time buyer's home cost closest to £590,000 in Wandsworth, Islington and Hackney, according to HM Land Registry's House Price Index.

In England a first-time buyer pays £19,500 stamp duty at this price; no Scottish council area comes close (the highest is Edinburgh at £252,487), but £590,000 there would mean £31,750 LBTT; no Welsh council area comes close (the highest is Monmouthshire at £264,431), but £590,000 there would mean £24,750 LTT (Wales has no first-time buyer relief).

Only 6 of 349 council areas have a higher average first-time buyer price; 6 of them are London boroughs.

HM Land Registry UK House Price Index, August 2026 (provisional). The tax column is this page's price under each area's own nation's rules, 2026/27.

Source: HM Land Registry: UK House Price Index data downloads, August 2026

Conveyancing at £590,000

Average 2026 conveyancing quotes in the £500,001 to £600,000 band were £1,640 for a freehold purchase and £1,780 for a leasehold (Compare My Move), and the Land Registry fee at this price is £295 online. See conveyancing fees on a £590,000 home for every price band, each region and what a quote should include.

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