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please talk me out of moving!
money-savvy-suzy
Posts: 31 Forumite
I need help. I'm seriously contemplating moving. Can someone please give me some rough costs that will put me off eg. stamp duty, increase council tax, estate agent fees.
My house is worth £120,000 and the max mortgage I could take on would be £170,000. I have £50,000 of equity in my house so I would have to borrow £120,000.
I've worked out what my extra mortgage payments would be, but I want to be aware of all the other costs - this might just put me off!
Much appreciated x
My house is worth £120,000 and the max mortgage I could take on would be £170,000. I have £50,000 of equity in my house so I would have to borrow £120,000.
I've worked out what my extra mortgage payments would be, but I want to be aware of all the other costs - this might just put me off!
Much appreciated x
Mortgage free wannabee -
Total mortage (approx) £70,041
Hoping to make overpayments very soon!
Allotments rule!
Total mortage (approx) £70,041
Hoping to make overpayments very soon!
Allotments rule!
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spam. reported0
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Post 2 reported0
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OP. look at your numbers again. One or more of them is wrong. If you can take on a mortgage of 170 and have 50 in equity then you 'have' 220 to spend. Is that what you meant?0
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money-savvy-suzy wrote: »I need help. I'm seriously contemplating moving. Can someone please give me some rough costs that will put me off eg. stamp duty, increase council tax, estate agent fees.
My house is worth £120,000 and the max mortgage I could take on would be £170,000. I have £50,000 of equity in my house so I would have to borrow £120,000.
I've worked out what my extra mortgage payments would be, but I want to be aware of all the other costs - this might just put me off!
Much appreciated x
I have sold two houses: house 1 estate agents fees were 1% of the sale price + VAT (house was sold for £77,500). The second estate agents fees were a flat rate of £1500 + VAT (house sold for £227,000). I guess it depends where you live but I personally wouldn't pay more than 1% - haggle! I would think £1500 max for you.
Stamp duty would be 1% on any house between 120K and 250K currently (I think this is still true?).
I don't think that the council tax would go up too much on the kind of move you are talking about but you will have to check that out with the council you are under.
Then of course you have solicitors fees and removal costs. I honestly cannot remember how much this was - couple of quick calls will answer that for you though.0 -
How about interest rates still being high, housing crash on the way, home information packs, and the new neighbours pobably being neighours from hell leading to a fortune in litigation.
All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0
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