Buying a home

Buying a home

Buying a house is a complicated process.

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A mortgage is like a king-sized loan you use to pay for a new house. Mortgages are repaid over a long period of time and are secured by the property you bought with it – meaning, if you don’t keep up with repayments, the mortgage provider is legally allowed to repossess your house from you.

Read more about the support available for mortgage interest.

Stamp Duty Land Tax

Stamp Duty Land Tax is a tax you pay if you buy a property over a certain price. The amount varies according to the price of the property and how many properties you own.

Find out how it works and how much you might need to pay.

Council Tax

Council tax is a tax that you pay to your local authority in order to pay for local services such as schools, libraries, and rubbish collection.

Some people are exempt from paying council tax and others may be eligible for reductions.

Find out more.

Home Insurance

A home insurance policy can protect your home and belongings in the event that they are damaged or stolen. Although home insurance is not a legal requirement, sometimes it may be required, for example if you’re taking out a mortgage.

If you are renting, you only need to cover your belongings, as the landlord should cover the building itself.

Service charge

If you live in a household in an apartment block or shared setting which has communal benefits you may be asked to contribute money towards the upkeep.

E.g. Nathan lives in an apartment with a communal garden. Alongside fellow residents, he pays a service charge to cover the cost of maintaining the garden.

Warm Home Discount Scheme

This is a government initiative that allows for one-off discounts on electricity bills. If eligible, you can get a £140 discount.

Find out if you’re eligible.

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