The Real Cost of Buying a First Home in Scalloway
A first purchase at the £180,000 Scalloway average needs about £21,400 in cash, made up of £18,000 deposit, £100 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 £180,000 Scalloway average needs about £21,400 in cash, made up of £18,000 deposit, £100 LBTT with first time buyer relief, and roughly £3,300 in fees.
The full cash number for Scalloway
On the local average the deposit is £18,000, LBTT is £100 and fees are near £3,300. Total cash needed is about £21,400.
First time buyer relief raises the LBTT nil rate band to £175,000, saving you £600 against the standard charge of £700 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 Scalloway.
Where local earnings cap the purchase price
The costs that start the day you move in
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.
The Scalloway detail first buyers ask about
The schools families ask about here are Scalloway School, The Anderson High School, Lerwick, Tingwall / Whiteness area primaries, NAFC Marine Centre (UHI Shetland) and Shetland College / UHI Shetland. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: Scalloway to Lerwick takes about ~15 min drive.
By price, Scalloway ranks 2 of the 3 Shetland locations we cover, at £180,000 against a county average of £181,667. Band D council tax here is £1,488, against £1,488 across the county.
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.
What your money buys in Scalloway
Scalloway is shetland's ancient capital, a characterful fishing and aquaculture harbour village, ~6 miles from Lerwick.
The full local guide covers schools, transport and the market in detail: Scalloway property and area guide.
| Budget | What it buys here |
|---|---|
| Around £110,000 to £165,000 | A terrace or a cottage in Scalloway, the most accessible way in, popular with first-time buyers and workers. |
| Around £165,000 to £300,000 | A semi or a detached family home in the village or on the edges, the heart of the Scalloway market. |
| £280,000 and above | A larger detached home, a rural property or one with land or a harbour outlook, the top of the local market. |
- A characterful island harbour village, ancient capital, castle and Shetland Bus heritage
- One of Scotland's lowest Band D figures, with no police, fire or community precept
- A little more affordable than Lerwick, with the town six miles away
- A working fishing and aquaculture harbour and the NAFC Marine Centre
- Very low crime and a strong, close-knit 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
- Limited housing supply keeps prices firmer than you might expect
- Weather can disrupt ferries and flights, and goods shipped in cost more
- Dark winters and an exposed maritime climate
Scalloway is known locally for Scalloway Castle. The early-17th-century tower house of Earl Patrick Stewart still dominates the village, a Historic Environment Scotland landmark and a symbol of the ancient capital.
Practical detail for Scalloway: the ZE1 postcode district and nearest A and E is No hospital in the village, the Gilbert Bain Hospital, Lerwick (~6 miles) has an A&E; serious cases fly to Aberdeen.
Scalloway at a glance
| Upfront cost | Scalloway figure |
|---|---|
| Average price | £180,000 |
| Deposit at 10% | £18,000 |
| LBTT, first time buyer | £100 |
| LBTT, standard rate | £700 |
| Legal, survey and moving | £3,300 |
| Total cash needed | £21,400 |
| Monthly repayment illustration | £947 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about Scalloway
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- Total cash of about £21,400, 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 Scalloway
Broadband speeds can vary street by street in Scalloway, 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 Scalloway?
Do first time buyers pay LBTT in Scalloway?
What is the biggest hidden cost?
How do I check broadband speed at a property in Scalloway?
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