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FTB - Come and talk to me about fees!
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laura325630
Posts: 20 Forumite
House price is £149k, we are confident an offer of £139k will be accepted.
What fees do we need to factor in? Our mortgage will be for £135k.
Thanks.
What fees do we need to factor in? Our mortgage will be for £135k.
Thanks.
0
Comments
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Off the top of my head.....the last time I bought a house was 4 years ago.....
Solicitor/conveyancer fee, roughly £500
Deposit
Search Fees, roughly £50
Land Registration fee on completion, £150
Any mortgage arrangement fees
Stamp Duty land tax at 1% of purchase price
Bank transfer fee £30
Your solicitor will give a comprehensive list of fees once your purchase is progressing.
Good luck!"Put the kettle on Turkish, lets have a nice cup of tea.....no sugars for me.....I'm sweet enough"0 -
Conveyancing fees for purchase
Local, environmental, bankruptcy, land registry and specialist searches and BACS transfer fees (listed as disbursements in conveyancing fee but make sure all costed up front)
As you are FTB - no Stamp Duty will apply BUT the SDLT1 Form still needs to be completed even though no tax is due - check with conveyancer if this is included in their fee or extra
Land Registration Fee approx £200 (again should be on conveyancers quote)
It is best to get a fully itemised quote form a local conveyancer to give a full idea as these costs vary widely by area and trnasaction value.
Any up-front mortgage arrangement fee and product fee (if not added to mortgage)0 -
Eek - your deposit is about 3%?! Is that the best you could do?0
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Your deposit is what, £4k?!
You're getting a 98% mortgage?!"I'm not from around here, I have my own customs"
For confirmation: No, I'm not a 40 year old woman, I'm a 26 year old bloke!0 -
Sorry, meant to put 125k mortgage! We have a 15k deposit. We are looking guarantor mortgages.0
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Aside from the morality of all this, having read your other posts today I would have thought that due to the recently discharched bankruptcy and the BRO, no right-minded lender would grant a mortgage at all with the BRO person on it even if the guarantor was stinking rich.
In (old fashioned pre-boom) banking we have a saying that no level of security makes a bad deal good!
Asking a 68yo pensioner to put his assets on the line for you in another matter altogether....0
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