Choose the right property for your budget
Find the right home based on your affordability and buying position.
When buying your next or first home, considering the financial aspects of your purchase is crucial. From the price of the property to moving costs and the legal conveyancing; having a comprehensive understanding helps to put you in the best position for moving home.
Stamp Duty Costs
Stamp Duty Land Tax (SDLT) is a tax on buyers when they purchase property or land in England. The amount payable varies based on the property’s purchase price and the buyer’s specific circumstances, such as being a first-time buyer or owning additional properties. If you're a first-time buyer, you qualify for relief also known as the first-time buyer Stamp Duty exemption. This is where you don't pay SDLT for properties valued up to £425,000. If your chosen home costs more than this for example, you'll pay 5% on the portion between £425,000 and £625,000.
Mortgage payments
Not all home-buyers require a mortgage to purchase their next property, but for those that do, you will make regular - usually monthly - payments to a lender to repay a loan taken out to buy the property. These payments typically include both the principal amount (the original loan) and the interest charged by the lender. The interest charged is known as a mortgage rate. This rate determines how much interest you will pay over the life of the loan and these can either be fixed (meaning they stay the same for a set amount of time) or variable (and they change based on the market).
Moving costs
The average moving costs range from £400 - £4000 for a 2 - 4 bedroom home. Of course, these costs can be reduced by hiring a suitable self-drive vehicle and carrying out the majority of the move for yourself, however this can be challenging! Professional movers will have equipment and insurance to ensure your belongings are safe during the move.
If you would like to find out what your mortgage or Stamp Duty costs would be, we have a handy Stamp Duty calculator and Mortgage calculator below, which we hope help you to find valuable insights about your affordability. Whether you’re a first-time buyer or you are looking to invest in an additional property, select your options below.
Please note that the calculators below provide an estimate and do not constitute a formal mortgage application or financial assessment.
Stamp Duty Calculator
In England, Stamp Duty Land Tax (SDLT) is paid by buyers when purchasing a property or land.
This calculator estimates your potential stamp duty costs, just input the purchase price and receive an instant estimate.
Mortgage Calculator
Monthly mortgage payment:
This calculator is for illustrative purposes only and does not constitute a formal mortgage application. Please speak with an advisor to see how much you could borrow.
Stamp Duty Calculator
Stamp Duty to pay: £0
Mortgage Calculator
Use our mortgage calculator tool for prospective homebuyers to estimate their monthly mortgage payments. This calculator takes into account the property price, deposit amount, loan amount, interest rate, and length of the loan to provide an estimate of monthly payments.
By adjusting variables such as the deposit amount or loan term, users can explore different scenarios and find a mortgage arrangement that best suits their financial situation.
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