The Real Cost of Buying a First Home in Brae
A first purchase at the £175,000 Brae average needs about £20,800 in cash, made up of £17,500 deposit, £0 LBTT with first time buyer relief, and roughly £3,300 in fees.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to.
A first purchase at the £175,000 Brae average needs about £20,800 in cash, made up of £17,500 deposit, £0 LBTT with first time buyer relief, and roughly £3,300 in fees.
Every pound you need before completion in Brae
On the local average the deposit is £17,500, LBTT is £0 and fees are near £3,300. Total cash needed is about £20,800.
First time buyer relief raises the LBTT nil rate band to £175,000, saving you £600 against the standard charge of £600 at this price. LBTT rates are set by the Scottish Government and collected by Revenue Scotland. Confirm the current position on revenue.scot before you complete.
Where the upfront cash goes
The commercial page for this town sets out the introduction itself: Mortgage advice in Brae.
Borrowing power on a Brae income
Running costs from week one
Band D council tax in Shetland is £1,488 a year, which is £124 a month. Add energy, water, insurance and maintenance.
Protection belongs in the same budget. If the mortgage depends on two incomes, it depends on both people staying well enough to earn. That is the part of the purchase we advise on directly.
In Scotland first time buyer relief raises the LBTT nil rate band to £175,000, worth up to £600. There is no upper price limit on the relief.
The Brae detail first buyers ask about
The schools families ask about here are Brae High School, Brae primary provision, Northmavine area primaries, The Anderson High School, Lerwick and Shetland College / UHI Shetland. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: Brae to Lerwick takes about ~35 to 40 min drive.
By price, Brae ranks 3 of the 3 Shetland locations we cover, at £175,000 against a county average of £181,667. Band D council tax here is £1,488, against £1,488 across the county.
What your money buys in Brae
Brae is a North Mainland village shaped by Sullom Voe, the gateway to Northmavine, with the energy economy close by.
The full local guide covers schools, transport and the market in detail: Brae property and area guide.
| Budget | What it buys here |
|---|---|
| Around £110,000 to £160,000 | A smaller or older home in Brae, the most accessible way in, popular with first-time buyers and workers. |
| Around £160,000 to £300,000 | A modern or detached family home in the village or on the edges, the heart of the Brae market. |
| £280,000 and above | A larger detached home, a rural property or one with land or a water outlook towards Northmavine, the top of the local market. |
- A working North Mainland village with facilities beyond its size
- One of Scotland's lowest Band D figures, with no police, fire or community precept
- Steady employment from Sullom Voe, the gas plant and aquaculture
- The gateway to Northmavine and the Eshaness cliffs, superb outdoors
- Very low crime and a strong community
- Genuinely remote, Shetland is about 110 miles from the mainland by overnight ferry or a flight
- No hospital in the village; serious cases are flown from Lerwick to Aberdeen
- The oil-and-gas terminal is an industrial neighbour, and the economy is energy-linked
- Lerwick's main shops and hospital are about 25 miles / 35 to 40 minutes south
- Weather can disrupt ferries and flights, and dark winters and an exposed climate
Brae is known locally for Sullom Voe, and Mavis Grind. The huge oil and gas terminal near Brae, built in the 1970s and once one of the largest in Europe, the economic anchor of North Mainland Shetland and the reason the village grew as it did.
Practical detail for Brae: the ZE2 postcode district and nearest A and E is No hospital in the village, the Gilbert Bain Hospital, Lerwick (~25 miles) has an A&E; serious cases fly to Aberdeen.
Brae at a glance
| Upfront cost | Brae figure |
|---|---|
| Average price | £175,000 |
| Deposit at 10% | £17,500 |
| LBTT, first time buyer | £0 |
| LBTT, standard rate | £600 |
| Legal, survey and moving | £3,300 |
| Total cash needed | £20,800 |
| Monthly repayment illustration | £921 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about Brae
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- Total cash of about £20,800, not just the deposit
- Your LBTT position confirmed on revenue.scot
- A first year running cost budget including £1,488 council tax
- Income protection quoted before completion, not after
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to.
Check broadband before you make an offer in Brae
Broadband speeds can vary street by street in Brae, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Questions people ask
How much money do I need to buy a first home in Brae?
Do first time buyers pay LBTT in Brae?
What is the biggest hidden cost?
How do I check broadband speed at a property in Brae?
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