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Monthly Archives: April 2021

Costs to consider before buying a home

Posted on June 27, 2022 at 3:37 pm

Mortgage arrangement fee: Expect to pay your lender an arrangement fee. In some cases, this can also be non-refundable if the purchase falls through.

Valuation Fee: Another lender charge, to check that the property exists and the property offers enough security against the loan amount. The cost can vary depending on the purchase price and lender.

Legal Fees: Some lenders will help with legal fees if you use their approved solicitor. You can shop around and find your own conveyancing solicitor.

Stamp Duty: If the property is more than £125,000 then you will pay to Stamp Duty Land Tax on its purchase price.

Surveys: These are a costly aspect of any purchase and many people pay for surveys on purchases that fall through so budget for extras just in case.

Removal Costs: Factor in the costs of a removal van. Just a few hundred pounds for a small local move to at least £1000 for a whole family’s lifetime possessions.

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