Question 1

How much cash do I need to buy a home in the UK?

Accepted Answer

Total cash comes from three things: the deposit (the part of the price a mortgage does not cover, if you use one), stamp duty, and fees (solicitor, mortgage broker). The tool above works out that total and the payment schedule from your budget.

Question 2

Is stamp duty higher if I live abroad?

Accepted Answer

Yes. Buyers who are not UK residents pay a 2% surcharge on top of the standard rates, and the additional-property rates apply too when you buy an investment or second home. The tool applies this from your choices.

Question 3

At what stages are payments usually made?

Accepted Answer

First a reservation fee, then the first deposit (usually 10%) at exchange of contracts about 4 weeks later, stage payments depending on the project, and finally the remaining balance on completion day. Stage payment timing varies by developer.

Question 4

If I use a mortgage, when should I apply?

Accepted Answer

Right after reservation you work with a broker to get an Agreement in Principle. When handover is far off, mortgage offers are only valid for a limited time, so the formal application is timed to the handover date.

Buying in the UK: A Roadmap Built Around Your Budget

How much cash do you have?