There are certain costs that you may need to pay on top of the purchase price. These are:

Stamp Duty Land Tax

Property value band   Rate

£0 – £125,000                       0%
£125,001 – £250,000            2%
£250,001 – £925,000            5%
£925,001 – £1,500,000        10%
£1,500,001+                         12%

legal fees

The solicitors acting on your behalf will charge a fee. This is not a set fee but one that will vary. So we recommend that you shop around.

Mortgage lender fees

Your mortgage lender will usually charge both an administration fee and a valuation fee.


We recommend that you have a full building survey before you decide to go ahead with the purchase.

Once you have bought your share of the property your mortgage lender will want you to take steps to safeguard your purchase.

This could include:

  • life insurance
  • mortgage payment protection insurance
  • contents insurance.

Futures Housing Group will take out building insurance to cover damage to the property in the event of a fire, storm damage etc.

If you do not maintain your mortgage or rent payments regularly, you could lose your home.

Once you have bought your share of the property, you will be responsible for all of the maintenance and repairs.

If you buy a flat, we are responsible for the repair and maintenance of the building and communal areas and you are responsible for internal maintenance.

We recommend that you save some money as a contingency fund in case something does go wrong.

As well as your monthly mortgage cost, you will also have to pay a monthly rent and service charge.

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