Costs involved in buying a house

getmore4less

Atomix wrote: »

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...

Insure from exchange.......

n217970

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.

For the numbers quoted (54kish mortgage) it will not be worth paying a grand for a better rate - go with the cheapest/free option.

From memory when I did the maths the other month I don't think there is any benefit unless you are getting a mortgage for at least 150kish

We went with Nationwide who charged nothing, even valuation was free + we got £500 cashback which paid for the new dishwasher. Depending on what or who you know you can also save some money on the home buyers survey, they are not essential. I did not feel the need on a 15 year old house or the 60 year old one before it but I am also reasonably confident in my own structual knowledge.

hazyjo

n217970 wrote: »

For the numbers quoted (54kish mortgage) it will not be worth paying a grand for a better rate - go with the cheapest/free option.

From memory when I did the maths the other month I don't think there is any benefit unless you are getting a mortgage for at least 150kish

We went with Nationwide who charged nothing, even valuation was free + we got £500 cashback which paid for the new dishwasher. Depending on what or who you know you can also save some money on the home buyers survey, they are not essential. I did not feel the need on a 15 year old house or the 60 year old one before it but I am also reasonably confident in my own structual knowledge.

Looking at a £50k-ish mortgage myself and will pick the free option (also with free valuation and £250 cashback). What I would advise too - not going to make an awful lot of difference to monthly payments. At least now the OP knows to shop around for mortgage deals as they vary greatly - and not all offer free ones.

Pinklilly

Atomix wrote: »

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...

I'm holding out for changing our phone/broadband provider, but still thats something else.

Atomix wrote: »

New locks / keys? also very important -

Thats something I hadn't thought of.

getmore4less wrote: »

Insure from exchange.......

Something else I hadn't thought of, cancelling current contents insurance and setting up a new policy for house + contents insurance.