It's always good to know what you can realistically borrow before your serious house-hunting starts.
Taylor Engley has a full-time Mortgage Advisor covering both our Eastbourne and Hailsham offices:
Tel: Eastbourne on 01323 731112
Stuart is an extremely experienced and dedicated Mortgage Advisor whose objective is to find the best mortgage for you. This is an essential part of the house buying process, and finding the right mortgage at an early stage could save you time and money.
The latest computer technology is used, keeping in touch on a daily basis with different lenders. Stuart can advise on a vast variety of schemes and lenders to find a tailor-made mortgage for your needs. His advice is without obligation, and is all part of the Taylor Engley service. So even if you have received some advice, it could be worth spending a little time checking that you have the very best mortgage deal for you.
Stamp Duty Land Tax rates
You have to pay Stamp Duty Land Tax (SDLT) if you buy a property in the UK over a certain price. This is charged on all purchases of houses, flats and other land and buildings.
The SDLT rate depends on:
The purchase price of the property.
The higher rates will only apply to additional residential properties purchased in England, Wales and Northern Ireland on or after 1st April 2016.
If you, and anyone else you’re buying with, are first time buyers of a residential property you can claim relief on purchases made on or after 22 November 2017. Where the purchase price is no more than £500,000 you will pay:
0% on the first £300,000
5% on the remainder up to £500,000
If the purchase price is more than £500,000 you can’t claim the relief and must pay the standard rates on the total purchase price.
||Existing Residential SDLT Rates (%)
||New Additional Property SDLT Rates (%)
|£0* to £125,000
|£125,000 to £250,000
|£250,000 to £925,000
|£925,000 to £1,500,000