How much does it cost to move house?

belina1978

I'm looking to relocate to, have very little equity in my property and no savings. How much is it likely to cost me to sell, move and buy a house for approx same value?

hazyjo

Around £1k-2k+ solicitors, depending on whether anything falls through. EA's fees of around 1-1.5% of the sale price, plus VAT. Stamp duty - no idea without knowing figures. Removal men, if you need them - too many 'what ifs' to quote on that. Buildings insurance between exchange and completion. Survey - homebuyers or structural probably advised. Anything from £300-1k. Any mortgage fees - impossible to quote on. Any existing mortgage cancellation fees.

Unfortunately, it ain't cheap!

How would you have a deposit to buy somewhere else if you don't have savings and don't have much equity? You'll probably need at least 10% - and that won't get you the best mortgage rates. You won't be able to buy somewhere else with what might effectively be a 100% mortgage. You might have lost money in your current home, but that's been and gone. If you try to move, the bank will value the property, and you'll need a deposit. They won't let you have a mortgage the same size as the value of the house.

Your best bet would be to downsize (or down value - cheaper area, etc).

Jx

lemontart

and of course you have to provide a energy certificate when selling prices vary around the country arou 1 to 200 pounds, and tarting the place up aka neutralising it to sell is cost too.

FireWyrm

I don't know about you, but this is probably representative if you shop around....

1) EA fee....do it yourself online with someone like HomeNetwork. I believe their fees are in the low £100s

2) survey.....I paid the obligatory £465 for the mortgage survey and a further £375 for my own structural survey

3) solicitor....depends where you go, but I paid £367 for the work and then £1500 in SDLT and a hundred more for bits and bobs

4) removals....two blokes and a big Luton van £375 all in...cash obviously but their tax position is none of my business.

5) mortgage arrangement fee...tacked onto the mortgage

6) building insurance...a rather steep £35 from DL

7) CHAPS fee £25 to get the deposit to the solicitor and then £30 to him to get it to the vendor for completion.


Does that help?