Mortgage brokerin Tower Hamlets

At £510,000, first time buyers cannot use FTB SDLT relief (capped at £500,000), so standard rates apply: 0% on £125k, 2% on £125,001–£250,000 (£2,500), and 5% on £250,001–£510,000 (£13,000) — total £15,500. Buyers targeting Bethnal Green or Bow rather than Canary Wharf may find properties under £500,000 where FTB relief applies, saving £10,500 in stamp duty.

Buy to let properties around Canary Wharf and the Isle of Dogs typically yield 3.5–4.5% gross — lower than outer London due to high purchase prices, but with exceptionally stable tenant demand from finance and law professionals. Bethnal Green and Bow deliver higher yields of 4.5–5.5% with more affordable entry prices. We advise both new and experienced landlords investing in the Tower Hamlets market.

Many of the large residential developments around Canary Wharf are leasehold, and some have historically faced issues including high and escalating service charges, ground rent clauses, and lease extension costs. Following the Leasehold Reform Act changes, buyers should check lease terms carefully. We always flag potential leasehold concerns early and can advise on which lenders are most comfortable with specific development types and lease structures.