To secure a mortgage you will need to provide your mortgage lender with a deposit. Many lenders now offer mortgages with just a 5% deposit, which means 5% of the price of the property you’re purchasing.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Stamp duty is calculated as a percentage of the price of the property you are purchasing, the current rates are:
|Up to £125,000||0|
|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 £1.5m)||10%|
|The remaining amount (the portion above £1.5m)||12%|
For more information about the mortgage options available to you and to see how much you could borrow please complete the enquiry form below.