Speak to our UK team 03333 204 121

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What other costs do I need to be aware of?

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When buying your first home there are other fees as well as your deposit that you will be expected to pay.
You may have to pay stamp duty, please refer to the table below to see how much you may have to pay

Property or lease premium or transfer value SDLT rate
Up to £125,000 Zero
The next £125,000 (the portion from £125,001 to £250,000) 2%
The next £675,000 (the portion from £250,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

Example; If you buy a house for £275,000, the SDLT you owe is calculated as follows:

0% on the first £125,000 = £0

2% on the next £125,000 = £2,500

5% on the final £25,000 = £1,250

Total SDLT = £3,750

You will also have to pay for the survey or valuation of the property, the cost of this is relative to the value of the property and can range from £0 to £1,000+. There is also legal work that needs to be done when purchasing a property. This is known as conveyancing and the cost of this is also relative to the value of the property. Your lender may also charge an arrangement/booking fee for your mortgage.

Contact us to find out how much these fees may be.

Can I get a Mortgage?
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

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