Can I Add Stamp Duty To My Mortgage?

Stamp duty is a tax applied to any purchase of any house, land or other type of property within the UK, although in Scotland it is referred to as Land and Buildings Transaction Tax and in Wales it is called Land Transaction Tax. The rate of stamp duty charged will vary depending on the purchase price of the property, the property location will also affect the stamp duty rate as well as discounts for first time buyers.

The Stamp duty will be paid after the purchase of the property has been completed with the buyer given 14 days to carry out the payment of the Stamp Duty, the stamp duty cost can be added to the buyers mortgage but it is important to note that you will be required to pay interest on the money borrowed to pay the stamp duty. The extra amount of the borrowing will also be factored into the mortgage Loan To Value calculations.

It is not only important that you have all the information you need to make an informed decision when navigating the mortgage loan process, we also believe it is important to have resources at your disposal that can save you time and money! We have over 30 years experience help buyers purchase a property giving qualified mortgage advice, we have hand selected many resources that will help you during and after your purchase.

Some of the reasons you should use First Choice Finance;

• Mortgage Enquiry Helpline - a mortgage sourcing facility and point of reference for general information about our lenders and products.
• Special Offers from Mortgage Lenders - usually available just for a short time to certain borrowers.
• Access to multiple mortgage & loan lenders covering most lending needs.
• Competitive mortgage deals - we use our experience and qualified advisers to provide the best deals from the mortgage market.
• A wide range of exclusive products - competitive products ranging across our panel of lenders, not usually available to borrowers direct from the High Street.
• We can offer many similar reasons to use us for mortgages and remortgages but ... actions speak louder than words, so... why not give us a call 0800 2983000 and try our services.

First Choice Finance is a qualified mortgage adviser firm and with access to multiple mortgage lenders and plans. Whether you require a mortgage to buy your first home, remortgage to a better deal, add to your buy-to-let portfolio, or need to raise cash for any other legal purpose, why not give us a call to see how we can help?

Buy To Let Mortgage
Buy To Let mortgages are considered as commercial deals, and the method in calculating the amount which can be borrowed differs between lenders. Let us help you to find the most suitable arrangement from the market and locate the mortgage which fits your circumstances. It is important to note that the stamp duty charged on the buy to let property is at a higher rate than a residential property.

Right To Buy Mortgage
If you have been a council tenant or housing association tenant for two years or more you probably have the right to buy your home at a discount of anything up to 70%. To obtain an independent mortgage quote from one of our experienced and qualified advisers, please contact our qualified mortgage advisers.

You may have trouble getting a mortgage from the High Street banks and building societies, but we have access to a wide range of specialist lenders who should be able to help you. The amount of discount you are entitled to depends on how long you have lived in your home, and whether you live in a house or a flat/maisonette.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.