Palta Money
These five guides cover the housing questions we hear most: stamp duty, rent vs buy, fees vs rate, true cost of owning, and what to do when a fixed rate ends. Pick one, then plug your numbers into a calculator. Information only, not financial advice.
Stamp duty
Stamp duty is a transaction tax on residential property. You don't pay anything on the portion below the first threshold, then higher rates on the amounts above. The total is the sum of tax on each band, not a flat percentage of the whole price.
Read guideBuy vs rent
A UK rent vs buy decision is more than just comparing the monthly payments. Buying needs a deposit, stamp duty, and fees upfront; owning adds maintenance and buildings insurance. Renting usually needs less cash upfront, so more of your money can be invested in something other than this property. Comparing net assets at the end of a mortgage term shows which path pulls ahead under your assumptions.
Read guideCompare offers
Mortgage product options often include a low rate with a product fee and a slightly higher rate with no fee. That comparison is tricky: you pay an upfront cost to save money later, but you are usually tied to the product until the fixed-rate period ends.
Read guideOwnership costs
Owning a home costs more than the mortgage repayment. Before you move in you pay buying costs on top of the deposit: stamp duty, conveyancing, survey, and mortgage fees. Once you live there, council tax, buildings insurance, maintenance, and sometimes service charges or ground rent come out of the same monthly budget. The true cost of owning is both: the cash to complete, then the ongoing housing bill.
Read guideRemortgaging
When a fixed deal ends you usually move to a new rate. Even a one or two percentage point change can add a large amount to the monthly payment. Starting four to six months early gives you time to choose between a product transfer with your current lender and a remortgage elsewhere, without drifting onto an expensive standard variable rate.
Read guideCouncil tax
Council tax is one of the largest predictable running costs for homeowners. It is set locally from property bands, with different rules in England, Scotland, and Wales. Scotland’s bill often includes water and sewerage; England and Wales bill those separately. It is easy to focus on the mortgage and forget this line item until the first bill arrives.
Read guideFixed rates
A two-year fix locks your payment for a shorter period. You reassess sooner if rates move. A five-year fix trades flexibility for longer certainty. Market pricing shifts: sometimes five-year deals sit close to two-year pricing; sometimes they do not. The trade-off is really about how long you want payment certainty and when you are willing to look again.
Read guideAffordability
Before you speak to a lender, it helps to know whether the housing payment you are modelling looks plausible against your take-home pay. That means the mortgage repayment plus running costs (council tax, maintenance, insurance), not the repayment alone.
Read guideTake-home pay
Your payslip headline is gross pay; what lands in your bank is net pay after deductions. Tax bands, NI thresholds, pension method, and student loan plan all shift the gap between the two, sometimes by more than people expect at higher incomes.
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