Guest markmet

mortgage question

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    Guest markmet

    Hi

    Just wandering when applying for a mortgage does anyone know if you can borrow the stamp duty and add it to the mortgage. We are thinking of applying for a mortgage a few months down the track, and wandered how others pay there stamp duty. what a shock that was to discover it is 5%. With all the other fees it really knocks a dent in the budget that you thought you had. How have others got round that. Any info would be appreciated

    Thanks

    Chris

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    My daughter has just bought a house and had to provide 10% of the buying price plus all the fees and charges, including application fees and stamp duty. Some relief is available throught the First Home Owners Grant, if you are eligible.

    I would advice you to contact a broker, like Mortgage Choice, and see what they can suggest for you.

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    Guest ade&emma

    Speak to Andrew Williams on here. He did our mortgage and is really good.

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    Speak to a broker BUt - it depends on the mortgage you apply for. We had to apply for a low doc mortgage as my husband had spent a few months self employed and I was still on probation. As such, we needed a 40% deposit as well as the stamp duty even though by income we qualified for much more. What surprised me even more was that they took the mortgage arrangement fee out of our mortgage amount instead of adding it to the interest so I needed 40% plus that arrangement fee plus the stamp duty. I think however, that if you can get a regular mortgage, you could add it in if you qualified for that amount.

     

    Liz

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