costs to buy

LJ1

I need to buy a house but I am confussed at what costs are involved.

So far Ive looked at a house - have not put in a offer as i need to resolve mortgage issue but even if this cant be sorted out - Id still like to know whats what

I assume it is wise to make sure you can put a mortgage in place.
then find a house and a lawyer then put in a offer.

I recently emailed a lawyer asking `` what costs were involved in buying house of around 90k`` they replied

Our Fee would be £500.00 plus VAT.
Assuming that this is not a new build property there would be a further charge of £130.00 for the dues of registration.

If we do this conveyancing work for you the Fee for a Will would be restricted to £100.00 plus VAT.

I thought that seemed a bit low - but then im not knowledgable in these matters. Would that be their fee - then other bits and pieces added to that. I also emailed a estate agent to see what their outlays would be and they send me back a list which came to around £800.

Do you have legal costs as well as estate agents costs.

I will be on a bit of a tight budget id prefer to overestimate the costs to start with then
anything saved is a bonus to me.

I know i am likley to have mortgage set up costs - est 1000
I would need a new will prepared est 100
misc for house removal/plumbing/paint/carpets est 1000

surveyor - average outlay (im not sure)
legal and estate agents - average outlay on
90k sale (im not sure)

would anyone like to offer any rough ideas - and also anything else you think i should budget for.

sonastin

Are you buying for the first time or have you something to sell?

As a buyer, you'll pay solicitors fees + disbursements (the things they pay on your behalf, e.g. search fees, stamp duty - although not for £90k, land registry fees, etc), mortgage fees including valuation, independent surveyor (if you choose to, or you could upgrade the mortgage valuation). Plus moving costs, decorating costs, furnishing, etc.

As a seller, you'll pay more solicitors fees and estate agent fees and any mortgage redemption fees that might apply to the mortgage on the home you are selling.

Its hard to say what the figures are likely to be. The solicitor's fee you've quoted probably doesn't include the disbursements. Depends where you are buying as to what they will be. Surveyors in my area are short of work and charging roughly £300 for homebuyers surveys on a £180k house but again depends on the area. If you are only buying, you shouldn't have to pay the estate agent anything so I'm not sure where the £800 comes from.

Charliezoo

We're selling our house and looking to buy a larger property. Our mortgage advisor has told us that as the house we want to buy is subject to stamp duty we need to budget £20000 for all the fees and moving costs. Very depressing.

Richard_Webster

the dues of registration.

I also emailed a estate agent to see what their outlays would be

The expressions used suggest that the property is in Scotland but it is not obvious that this is the case - so please, people, don't jump in with a lot of English figures.

Just another point in my battle for separate property forums!

poppy_f1

im in scotland and paid 717 for my legal fees buying a house at 97k