House purchase / move costs

Yorkie1

I'm just looking through my budget for my anticipated house purchase and am checking how much money I'm likely to need to spend (other than deposit) from the run-up to the purchase up to, say, the end of the first month after moving.

So far, I've calculated on the following matters, but would value any comments on other things I need to add to the list.

• Solicitors fees inc. Stamp Duty £3300
• Application fee c.£250
• Valuation / Homebuyers survey c.£500
• Removal (including packing me up) c.£700??
• Phone transfer admin fee £30
• Rent overlap period £550
• Buildings & contents insurance c.£300
• Postal divert £40
• Settle Gas & Electric at old address £??
• Any charge for change of driving licence address
• Any charge if decide to get boiler and gas serviced
• Any white goods needed e.g. washing machine
• Anything else ...

Am I also right in thinking that the initial mortgage payment is likely to be higher than would usually be expected on subsequent months (will be a fixed term mortgage on £120K, probably about the 5% mark)?

I've got £10K in liquid cash available for all the above (more available in ISAs if need be), do you think that would suffice?


Many thanks in advance

LilacPixie

Impossible to really say. no idea what you are buying so can't say if £3300 is enough in the same respect not a clue what white goods you need, if you need say a fridge freezer, washing machine, tumble dryer, cooker, dishwasher all at once you won't have much change out of 2k buying pretty basically.

B&C insurance i'm £219 but without knowing value of property, reinstatment costs value of contents, anything being named on policy it's also impossible to tell.

DVLA changed my address on car documents/licence for nothing. there may be some impact on cost of car insurance (if you have a car) of moving house though.

My first mortgage payment was different 1st month, Possibly because I got keys on 13th of month but DD date was the 8th KWIM. Payments were detailed in my official mortgage offer.

I would always recommend you get boilers serviced/checked as soon as possible. The company I use is £60 but your area may be different.

vuittondreamer

Hi Yorkie,
Really shop around for Removals and look to see if it cheaper to hire a box van (you can drive that on an ordinary driving lic) I know it's hard work, but we['ve had less breakages when we've moved ourselves. (another tip, if you are using a removals company read their terms and conditions and check their insurances on breakages!)
I wouldn't bother with Postal Redirection, as you'll redirect most of your bills and invoices automatically when you notify the change of address, our neighbour who moved said all she had redirected was Junk Mail.
Yes your initial mortgage payment will be higher as it commences interest on the completion date (transfer of Money date) so it may be 1 and half month (depending on when you move of course)
Driving Licence change of address is free, as long as you are not renewing the photo in the card. (so if yr lic is 10 years old you have to pay for renewal)
Hope this helps

Good luck

Vuittondreamer xx

keith969

You should be able to get B&C insurance cheaper than £300, I got mine via Quidco with the AA, its £17 a month and £50 cashback.

Yorkie1

Many thanks to all who have posted, it's a 3-bed semi valued at £220K so the solicitors fees and stamp duty are already settled (searches under way etc).

Good tip about the removals and B&C, nice to know I may have overestimated.

Much appreciated.

Caracul

Just wanted to say thanks for the break-down. Its nice to have a list to think about all the things after the sale, and that aren't necessary straight to mind.

I think this will help budgeting somewhat!