The real math most calculators skip. See your total wealth under both paths.
UK buyers face Stamp Duty Land Tax (SDLT) as a significant upfront cost. On a £350,000 property, SDLT is £7,500 — or £2,500 if you’re a first-time buyer. This calculator uses the correct progressive band calculation, not a flat rate estimate.
Unlike the US, the UK offers no mortgage interest deduction for your primary residence. Your full mortgage payment is an after-tax cost. However, Principal Private Residence Relief means you pay no capital gains tax when you sell your home — a full exemption with no cap.
Most UK mortgages are fixed for 2-5 years, then revert to the lender’s variable rate. Factor in potential rate changes when choosing your time horizon.