Costs of Buying a House

iwantoneplease

Could someone list the Fees and associated costs of buying a house for me please I want to make sure I don't leave anything out.

My House is a council house in South Yorkshire 2 bedroom, the council are sending someone out to value the house this week.

kind regards

hugheskevi

See http://forums.moneysavingexpert.com/showthread.html?t=2235059

smug

Well to be honest, the two big ones are stamp duty and Estate Agent (spit) fees. Assuming you use an estate agent of course.

Assume selling for £150k and buying £200k:

Stamp Duty is 1% between a house price of £125k and £250k - You'd pay £2k
EA fees around 1.5-2% of the selling price of your own home. - You'd pay about £2.5k

Factor in legal fees and removal fees at perhaps another £1k in total, plus another £1k for miscellaneous costs and you won't be far off of the mark.

So about £6k to £6.5k to move from a £150k house to a £200k one.

VIGILANT22

smug wrote: »

Well to be honest, the two big ones are stamp duty and Estate Agent (spit) fees. Assuming you use an estate agent of course.

Assume selling for £150k and buying £200k:

Stamp Duty is 1% between a house price of £125k and £250k - You'd pay £2k
EA fees around 1.5-2% of the selling price of your own home. - You'd pay about £2.5k

Factor in legal fees and removal fees at perhaps another £1k in total, plus another £1k for miscellaneous costs and you won't be far off of the mark.

So about £6k to £6.5k to move from a £150k house to a £200k one.

As this is a Right to Buy..(My House is a council house in South Yorkshire 2 bedroom, the council are sending someone out to value the house this week.)...no estate agent/removal fees are involved.

iwantoneplease

I've spoken to the valuer today and he estimates my property would be no more than 62k before my discount.

Does anyone know what fees would be appropriate to an RTB house for this amount.

Land Registry:
Solicitors:
Mortgage fee: (halifax)
Valuation Fee:

What other things do I need?

Thanks

G_M

See

http://forums.moneysavingexpert.com/showthread.html?t=2235059

iwantoneplease

G_M wrote: »

See

http://forums.moneysavingexpert.com/showthread.html?t=2235059

Are the costs still the same even though my house would be alot cheaper?

hugheskevi

Amending the list based on what you say, I'd put:

Cost of property: £62,000

Stamp duty: £0
Legal fees (including all searches/fees other than those listed separately):£759
Mortgage fee: £995 (depending on exactly which mortgage you have chosen)
Mortgage Valuation Survey and Homebuyer survey on property: £350 (will be less if you just want a valuation survey)
Land registry fee: £280
CHAPS bank fees to send initial deposit and final completion bill to solicitor: £40
Postage:£10

iwantoneplease

hugheskevi wrote: »

Amending the list based on what you say, I'd put:

Cost of property: £62,000

Stamp duty: £0
Legal fees (including all searches/fees other than those listed separately):£759
Mortgage fee: £995 (depending on exactly which mortgage you have chosen)
Mortgage Valuation Survey and Homebuyer survey on property: £350 (will be less if you just want a valuation survey)
Land registry fee: £280
CHAPS bank fees to send initial deposit and final completion bill to solicitor: £40
Postage:£10

Thanks, had saved up 3k for a deposit which I now don't need so this will be spend on the fee's