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  • First time buyers

    This calculator reveals in under 15 seconds how much you can borrow. Enter your income and if this is a joint mortgage enter both incomes to see the maximum loan and possible stamp duty charge.

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  • How much can I borrow?

    Stamp Duty
    For example, if you buy your first home for £400,000 you would pay no tax on the first £300,000 and 5% on the remaining £100,000 or Stamp Duty Tax of £5,000. For a new mortgage deal have a look at our Mortgage Best Buys.

    Property value Stamp Duty Rate
    £0 - £300,000 0%
    £300,001 - £500,000 5%
    £500,001+ Standard rates

    As a first time buyer, if your property is worth £500,001 and over no relief is available and you would pay standard Stamp Duty rates on the full purchase price.

    Property value Stamp Duty Rate
    £0 - £125,000 0%
    £125,001 - £250,000 2%
    £250,001 - £925,000 5%
    £925,001 - £1.5m 10%
    Over £1.5m 12%

    For example, if you buy your first home for £600,000 you would pay no tax on the first £125,000, 2% for the portion between £125,001 - £250,000 and 5% on the remaining £350,000 or Stamp Duty Tax of £20,000.

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    IMPORTANT

    Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. London City Mortgages do not charge any upfront fees. A fixed fee is only charged upon completion of an Equity Release.

    WARNING

    Equity Release - Equity Released from your home will be secured against it. Mortgages – Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured against it. Think carefully before securing other debts against your home. The information contained in this website is subject to the UK regulatory regime and is therefore intended for consumers based in the UK.

    CONTACT

    Address:
    Bury House, 31 Bury Street,
    London, EC3A 5AR

    Phone:
    020 8801 5856

    Email:
    info@londoncitymortgages.co.uk

    London City Mortgages Limited is a registered company in England & Wales under company number 09278987. London City Mortgages Limited is an Appointed Representative of Blackstone Moregate Limited (FCA no. 459051) which is authorised and regulated by the Financial Conduct Authority. LCM and LCM Equity Release are trading names of London City Mortgages Limited.

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