Bricks and Morta

07/02/2025

07/01/2025

This example is assuming a 10% deposit over a 5 year fixed mortgage.
Overpaying on your mortgage can save you thousands in interest and help you pay off your loan faster. Even small extra payments reduce your balance, cutting down the total interest over time. It’s a smart way to become mortgage-free sooner and save money in the long run!
This is an example showing the effects of mortgage overpayments. Always check if early repayment fees are applicable and how much your lender allows you to overpay each year.

06/12/2024

You can have as little as 5% deposit for your share of the property.
Because you only need a small deposit, you may be able to buy a bigger house straight away instead of a small starter home.
A lot of shared ownership properties are brand new, with new fixtures and fitting meantime you won’t have to spend money on doing the property up, only furniture and painting to your taste
Most schemes allow you to eventually buy 100% when you can afford it, although some will only let you buy max 75% so always check when putting in an offer.
You will have to consider whether its affordable to pay the mortgage, rent for the share you don’t own and management fees which can increase.
Most properties will have some restrictions like you can't rent out the property so if you decide to upsize you wont be able to keep this one and turn it into a buy to let unless you buy the full 100%

06/12/2024

06/12/2024

Currently first-time buyers pay no stamp duty when buying a home worth £425,000. This threshold will drop to £300,000, meaning they will go from paying nothing to paying £6,250 on stamp duty.

Home movers currently pay no stamp duty for properties up to £250,000, from the first of April stamp duty will start from £125,000.

Stamp duty rates will be
Up to £125,000 0%
£125,001-£250,000 2%
£250,001 to £925,000 5%