Moving house upfront fees

PrincessLou

We are looking to move house within the next year and I'm trying to work out how much we need to set aside for fees.

Which fees need to be paid upfront and which fees can come out of the sale of our current house?

Many thanks for any advice! :j

Daerve

Up front, nothing unless you use an online EA.

Then you'll need to pay mortgage fee, survey and searches (budget a grand) once you've found a house.

On completion you need to pay stamp duty, solicitors fees, estate agent fees, removal costs, postal redirect. These depend on prices of house etc but you're unlikely to see any change out of 5k.

We're selling at 91k and buying at 192k, the total is around 5k and we're using an online EA so saving around 2k. Moving isn't cheap!

Malmo

Here is the MSE guide that refers to the likely buying fees & costs to factor in and when they may be due.

Assuming a) that you need a mortgage and b) that you appoint a conveyancer to act on your behalf, the costs you should budget for and/or could potentially lose BEFORE exchange of contracts are:

1) The EPC if you are selling a property as part of the transaction and don't have an EPC already
2) Initial conveyancer's "on account" fee for any sale the conveyancer needs to handle (this will be deducted from the final invoice)
3) Lender's valuation fee, or combined valuation & survey fee (there may also be an additional valuation "admin" fee)
4) Initial conveyancer's "on account" fee for your purchase to cover searches and other upfront costs (this will be deducted from the final invoice)
5) You may also need to pay the lender's Arrangement Fee, but this can be added to the loan, which would of course accrue interest unless you overpay immediately to clear the fee
6) If you intend to use a mortgage broker, find one who charges either a) upon successful mortgage offer or b) on completion. Don't bother with brokers who charge upfront on application before you even have a mortgage offer in your hands.