For an entry level* property in this neighbourhood, you will need an annual household income of around:
You'll also need savings of around:
An entry level* property cost on average:
Average annual household income was:
*Entry level property refers to the lower quartile property price in the selected area.
**England & Wales average based on a % deposit and borrowing x salary.
This tool makes a number of assumptions when calculating figures. These can be changed to better fit your circumstances.
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The amount of the house you want to pay for right away (usually around 15% for first-time buyers).
Conveyance & survey fees
The amount charged by your solicitor to handle the sale and organise the necessary searches and surveys. This can vary depending on the firm you choose, and you could do this yourself.
Costs such as removal fees, redecorating, the purchase of new furniture and any up front mortgage fees.
How much a mortgage provider is prepared to lend you in (how many times income).
Stamp duty (non optional)
This is a mandatory tax when buying a propery above £125,000. We've calculated this and added it to the savings you’ll require. Read more about stamp duty or calculate your stamp duty for a given property.