Paying moving fees

Derby25

I have estimated my moving costs as follows: Stamp duty 4250, estate agent fees 2400, solicitor fees 1000 and survey fees 1000. I expect to pay these in cash, but due to two other agreements that I wish to clear the balance of too, it will be 6 months when I have this cash available.

We are due to agree a sale price on our home this week. I then estimate a 'normal' time between selling and moving as six months, so this may be okay. A possible backup is that family may help out if we moved say 2 months early, but I'd like to avoid this if possible. Are there any other options? The mortgage advisor I've spoken to so far has advised that stamp duty cannot be added to the mortgage, though I suspect this is because we'd ideally like to borrow the maximum that the DIP offers. Advice gratefully received.

libf

Although you will likely have to pay deposits upfront for solicitors and possibly estate agents (not used one myself), the full balance isn't due until you complete on the purchase, at which time you would usually have the funds from your sale.

amnblog

Your maximum lending on the mortgage is limited by your affordability or maximum loan to value ratio on the mortgage product - whichever is the lower.

There is nothing other than this to stop you borrowing £104,250 rather than £100,00 to cover your stamp duty funds.

Derby25

Thank you. If I understand correctly, if my maximum affordability amount I can borrow is 100k (hypothetically), and I needed to borrow the full amount of 100k for the mortgage balance, then I guess I wouldn't be able to add stamp duty?

Also, I have a DIP from London and Country. Would it now have a negative impact on my credit file if I chose to apply elsewhere? Thanks again.