Can you Add All Moving Costs to Mortgage?

fleetingmind

Are you able to add Stamp Duty, Estate Agent fee's, searches, solicitors fee, mortgage arrangement fee etc all to the new mortgage that you take out. I.e You need no money or credit card when you move?

Thanks

Will.Power_2

It depends on how much you want to borrow in relation to the purchase price, (ie. LTV) and the amount the lender will give based ion income (multipliers).
As long as the amount you want is within these limits of the lender, they shouldn't mind that it's not all house deposit.
It may be that some of the money has to be paid before 'completion', so you'll need to pay it from somewhere.

Manchester_Lucy

I think the only way you would do this would be to get the morgage to cove the cost of the house itself and then you take out a personal loan on top of that. I know people like Northern Rock do this.

It's quite a risky strategy though especially if the loan is for the term of the mortgage, you will end up paying out a huge amount in interest.

I would try to save up so you can cover ALL costs before deciding to buy a house.

djj

Try and save as much as possible.It works out a lot cheaper in the end.

clutton_2

if you are this strapped for cash - how will you cope when mortgage interest rates go up, and the gas bill comes in ???? buying a house with NO money is a seriously risky thing to do

mrsc_4

Initally we wanted to do this because we have recently got married so all our savings went into the wedding, in the end we didn't need to as we had made enough money on our flat to use the equity as a deposit and for the fees.

If you are a first time buyer though I wouldn't suggest this I would seriously try and save as much as you can.