Purchasing

There are a number of different types of survey. What you will need depends on the condition & age of the property, and how much your budget is. Typically there are 3 options a mortgage valuation, a homebuyers report or a full building survey. The Mortgage valuation; Used by mortgage lenders to asses what the…

Stamp duty rates are calculated on the property purchase price. Stamp duty rates are different for residential and commercial property. Current Stamp Duty Rates: Band Residential CommercialUnder £125k 0% 3%*£125k to £250k 2% 5%£250k to £925k 5% 8%£925k to £1.5m 10% 13%Over £1.5m 12% 15%* An additional property purchased for less than £40k will attract…

Buying at auction can be costly if you are not prepared. Once you have been successful with your bid you will need to pay a non-refundable 10% deposit and commit to completing on your purchase within 28 days. It is vital if you are thinking of buying at auction that you have your finance plans…

Right to Buy allows most council tenants to buy their council home at a discount. You can apply to buy your home if you have lived there for more than 3 years, you are a council tenant (or where when it was sold to your current landlord) and the property is your main home.

Shared ownership schemes are a mix of buying and renting. You buy part of the property and rent the other part at a reduced rate. Anyone is eligible for shared ownership providing household income is below £80,000 (£90,000 in London) Once you have bought your initial share you will have an option to buy a…

With a Help to Buy Equity Loan the Government lends you up to 20% of the cost of your newly built home, so you’ll only need a 5% cash deposit and a 75% mortgage to make up the rest. With London Help to Buy the equity loan can increase up to 40%. You won’t be…

A Help to Buy ISA is a type of ISA designed to help first time buyers save for their first home. You will receive a 25% bonus on your saving when you use the money to purchase a property, up to a maximum of £3000. The accounts are per person rather than household, the maximum…

Typically the minimum deposit required is 5%. There are a select few 100% options that you could be eligible for from various lenders. The larger deposit you have available the better the interest rate will be available for you. Lenders also see customers with larger deposits to be less risky and may be willing to…