Costs involved in buying a house

Pinklilly

We're now in the position to buy once we find somewhere, however estimates on the actual costs of buying seem to vary hugely.
We're looking at houses for around £60,000 (we live in Teesside), any advice on how much we should be expected to pay for surveys, solictitors fees etc?
The average price of "everything" seemed to be about £1200, does that sound about right?

hounsehunterftb

Approximate figures for you
Deposit - £6000
Solicitor fees - £900 - 1000
Mortgage broker (if you go for one) - £299
Mortgage valuation - £300
Home buyer survey(safe to do so) - £100 - 150
Extras - £500 (Removals etc)
Initial Furniture - £1000 - 1500

I would put aside about £9500 aside All the best

hazyjo

May also cost you around a grand for a mortgage deal, although there are several which don't charge and give cashback - although the monthly payments/rates will be higher than ones where you pay a fee.

aneary

I would up the solicitors fees mine have come in at £1600. Only non-local were cheaper my preference was to have one near in case I need to drop any documents in.

ThePants999

hazyjo wrote: »

May also cost you around a grand for a mortgage deal, although there are several which don't charge and give cashback - although the monthly payments/rates will be higher than ones where you pay a fee.

It's usually allowed to add the mortgage fee to the mortgage, though.

Pinklilly

aneary wrote: »

I would up the solicitors fees mine have come in at £1600. Only non-local were cheaper my preference was to have one near in case I need to drop any documents in.

Ouch there goes my plans for a holiday with any excess cash :eek:

HaleyP

I live in Teesside too and used a broker (free one, he gets a fee from the mortgage company) and he's sorted everything. The mortgage he's arranged included a free basic survey (we upgraded to a homebuyers for an extra £200), £500 cashback and the solicitors fees have totalled £1,083 including stamp duty and all searches etc. So once we get the cashback, it's little over £500. We complete on Friday! So excited. Good luck with your search

Pinklilly

Wow, that sounds like a really good deal, congratulations and good luck with your new home

Atomix

One or two unexpected costs as well...
for example, once you have completed, you will need to insure the house as of the exact same day, which could in theory, be setup beforehand, could be a few hundred pounds...
redirection of mail - for 3months - £32.
new phone/line. depending on how the seller leaves it / which provider they are with etc, (years ago you could leave the line 'live/open' as it were - this could cost up to £100 to setup. (could but you may get lucky).
Im sure there are other examples, these are just a few...

Atomix

https://forums.moneysavingexpert.com/discussion/943911

BT landline setup costs - £125 now -

Atomix

New locks / keys? also very important -