True Cost of Applying

Potbellypig

Hi - I've tried searching this board, but couldn't find the answer I was looking for. We're trying slowly to save for a deposit for a mortgage, but I'm a bit confused by all the other costs associated to it.

Could anyone help by listing the other costs involved please? For example, if I save up £20k for a deposit on a £200k house. How much would I be paying in solicitors fees and all these other fees for applying etc too. I assume these are to be paid upfront aswell?

ACG

£1,000 solicitors fees (generally will fall in between £800-1200 depending on whether it is freehold leasehold etc). This assumes no stamp duty is due.
£350 valuation fee (but may be free)
£999 lender fee (but may be free)
£500 broker fee (but may be more or less)

If you want/need any more surveys they will vary.

katie4

from what i remember all the fees were added to the mortgage, buti think you can pay up front to avoid the interest

ACG

Only the lenders fee can be added. The rest would need to be paid separately.

MrCH

My figures


£1200 solicitor
£400 survey
£295 broker fee


Broker fee when we chose the mortgage company and solicitor fees on completion.

Thrugelmir

Ring several local solicitors and obtain quotes.

AmyShepherd

Our Mortgage fee was £999, solicitors £1400, broker fee (if you use one) £200, survey (if you have one) £550 and stamp duty. This was on top of £40k deposit.

mustiuc

Broker (bad circumstances - 0 hrs contract, no ccjs,missed payments or whatever) £499
Solicitors £1200 with insurance, broker recommended
No fees for searches/survey. Lender paid everything + 1% cashback. We got a highet rate instead. 2.69% for 2yrs
I am very very happy with broker used, their recommendation and work done for us.
The broker fee is one for a lifetime, they will remortgage us if we want, get better deals for life/income insurance, they got our solicitors, i don't know, for £500 I can't ask for more.

iaink

When going with a solicitor try to ensure that they’re on your lenders panel or you’ll have to switch firms (or pay more fees)!

Durham_andrew

We payed 205k for a house and upfront we payed.

£220 for water/mine/environmental etc check
£95 mortgage broker fee (normally £295) he does lots of work for family so gave me a reduction.

On completion our solicitor costs where around 4K this includes all sale and purchase and estate agent fees

Potbellypig

Durham_andrew wrote: »

We payed 205k for a house and upfront we payed.

£220 for water/mine/environmental etc check
£95 mortgage broker fee (normally £295) he does lots of work for family so gave me a reduction.

On completion our solicitor costs where around 4K this includes all sale and purchase and estate agent fees

Did you have to pay that upfront?