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Hidden Costs of Buying a Property in the UK

Buying property involves many costs. Be prepared by seeking no-obligation mortgage advice from an experienced adviser.

Crunch the Numbers
for Your New Home.

Simple calculators that show you different mortgage options and help you understand what may be affordable for your new home purchase.

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What Are All These Hidden Costs?

Monthly mortgage repayments are the regular payments you make to your lender to pay off your home loan. These payments typically include:

  • 1.
    Principal: The amount you're paying towards the original loan amount.
  • 2.
    Interest: The cost of borrowing money, calculated as a percentage of the remaining loan balance.
  • 3.
    Insurance: Some mortgages include buildings insurance in the monthly payment.
  • 4.
    Taxes: In some cases, property taxes might be included in your monthly payment.

Your monthly repayment amount depends on several factors:

  • 1.
    Loan amount: The total sum you've borrowed.
  • 2.
    Interest rate: The total sum you've borrowed.
  • 3.
    Loan term: The length of time you have to repay the loan (usually 25-35 years in the UK).
  • 4.
    Repayment: Whether you have an interest-only or repayment mortgage.

Use our calculator below to get an estimate of your monthly repayments. Remember, this is a general guide – for a precise figure, consult with a mortgage advisor who can take into account your specific circumstances and the latest deals available.

How Does Mortgage Mapper Work?

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Steps

1

Share Your Details: Tell us about your property dreams.

2

Get Matched: We'll connect you with a suitable mortgage advisors for you and send you an introduction email.

3

Receive Expert Advice: Get tailored guidance for your individual circumstances.

4

Secure Your Mortgage: Move forward with confidence in your new home journey.