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Home Buying Budget Calculator

Find out what you can really afford to buy in England

Tell us about your purchase
01
What type of buyer are you?
About Stamp Duty

Stamp Duty is a tax you may need to pay when you buy a property in England. How much you pay depends on the property price and your circumstances

A few important rules

If you are buying with someone else, everyone buying with you must qualify as a first-time buyer to claim First-Time Buyers’ Relief

First-Time Buyers’ Relief only applies to properties costing £500,000 or less that you intend to use as your main home

Higher Stamp Duty rates may apply if you, or anyone buying with you, will still own another residential property worth £40,000 or more when this purchase completes. Property owned anywhere in the world counts

For higher Stamp Duty rates, property owned by your spouse or civil partner may also count, even if they are not buying with you, unless you are permanently separated

If you buy your new main home before selling your previous one, you may have to pay the higher rate first. If you sell your previous main home within 3 years, you may be able to claim the extra amount back from HMRC

Buying through a limited company? Companies usually pay the higher Stamp Duty rates when buying residential property worth £40,000 or more, even if it is the company’s first property. Special company rules can also apply

Check the full Stamp Duty rules on GOV.UK

Are you, and anyone buying with you, UK resident for Stamp Duty purposes?

For Stamp Duty, you are usually treated as UK resident if you have spent at least 183 days in the UK during the 12 months before your purchase

If you are buying with someone else, their residence status may also affect the calculation. Special rules can apply to married couples and civil partners buying together

This is a separate Stamp Duty test and is not the same as your usual UK tax residence status

Check the full rules on GOV.UK

We will calculate your Stamp Duty without the additional 2% non-resident surcharge
We will calculate your Stamp Duty with the additional 2% non-resident surcharge

Not sure which option applies to you?

Stamp Duty has its own residence rules, so it is worth checking your status before relying on the calculation. We can introduce you to an independent tax adviser if you would like professional advice

02
How much money do you have available?
What should I include?

Include all the money you expect to have available for the purchase and buying costs, such as savings, ISA funds, investments you plan to sell, gifts, inheritance or money from the sale of another property

Using gifted or overseas funds? Your solicitor may need additional evidence, so it is worth checking this early. We can introduce you to an independent property solicitor. Any advice and fees would be agreed directly with them

£
03
What is your annual income?
Employed?

Enter your gross annual salary before tax. You can usually find this on your latest payslip or employment contract. If you regularly receive bonuses, commission or overtime, a lender may also take some of this income into account

Self-employed?

Enter your net annual profit before tax. This is your business income minus business expenses

For example, if your business received £80,000 and you had £30,000 of business expenses, enter £50,000

If you run a limited company, lenders may calculate your income differently, so this figure is only a starting point

This calculator gives you a starting point. How much you can actually borrow depends on your circumstances and the lender, so the figure may be different

If you do not already have a mortgage broker, we can introduce you to one of the brokers we work with. They can talk through your situation and give you a clearer idea of how much you could actually borrow. Your first conversation is free. If you decide to go further, they will explain any fees before you proceed

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Second applicant's annual income
£
Estimated maximum property price
£0
Explore your buying options based on deposit
Uses your available money after Stamp Duty and buying costs to maximise your deposit
Estimated mortgage
£0

This is an initial estimate based on combined annual income × 4.5. How much you can actually borrow will depend on your personal circumstances and the lender, so the figure may be different

Want a clearer idea of how much you could borrow?
Let us introduce you to a mortgage broker we work with. Your first conversation is free, with no obligation to proceed

Deposit
£0
Estimated Stamp Duty
£0
How we estimate your Stamp Duty

We calculate this using the property price, the type of buyer you selected and your UK residence status for Stamp Duty

Stamp Duty rules can be complicated, so treat this as an estimate and check the amount with your solicitor before you buy

Check the current Stamp Duty rules on GOV.UK

First-time buyer relief does not applyYour property price is over £500,000, so First-Time Buyers’ Relief does not apply. We’ve used the standard Stamp Duty rates instead
Estimated buying costs
£0

Sensible estimates for a straightforward purchase in England. Actual costs may vary depending on your circumstances. If you already have a quote, type over the figure and your calculation will update

Sensible estimates for a straightforward purchase in England. Actual costs may vary depending on your circumstances. If you already have a quote, type over the figure and your calculation will update

Solicitor fees
£
This is an estimate. Your final legal costs will depend on the property, the complexity of your purchase and your personal circumstances
Broker fees
£
This is an estimate. Broker fees can vary depending on your circumstances and how complex your mortgage application is. If you already know your broker's fee, enter it here
Property survey
£
A survey helps you understand the condition of the property before you buy. This estimate is based on a typical Level 2 survey for a conventional property in reasonable condition. The actual cost will depend on the property’s size, age, condition, value and location
Rent overlap
£
Other costs
£
Add any other costs you would like to budget for, such as removals, storage, buildings insurance or initial repairs
Total money needed
£0
Money left
£0

What would you like to do next?

Need help with your purchase?
We can introduce you to specialists we work with. We’ll make the introduction by email
Want to keep your calculation?
Questions about your purchase?
We’re creating Property Godmother Chat, where you’ll be able to ask questions about your property purchase and get clear, practical answers