How much money do I need to buy a house?

Loonytunes

I know its a bit of a how long is a piece of string question but would apreciate a bit of advise. I'm a would be first time buyer looking to pay about £70k for a house. I'm due a small inheritance which will form most of my deposit but I'm trying to work out how much I'm likely to need for things like fees, surveys and other bits I haven't realised I need to pay for. How much do I need to save before I can look at getting somewhere? Thanks

HappyMJ

25% of the purchase price would be great but 10% would be the minimum...plus maybe about £1,000 for costs plus whatever stamp duty is due.

ACG

Solicitors - I would say somewhere in the region of around £800 (you might be able to get it closer to say £600 with an online company).
Arrangement fee, Anywhere upto £1000 - some companies let you add it or charge you a higher rate and no fee.
Valuation, probably no more than £250.
Deposit, 10% (Although may need more if your income doesnt cover the remainder).

Those figures are just estimates really, they could be more or less but i think it gives you a ballpark figure.