2nd time buyer

monaymadlol

Hi guys. 
I'm a ftb, looking at moving on. 
Just have a few q's whilst I work things out. 
I bought at around 90k 5yrs ago, 10% deposit, value now around 120k. It was a repayment mortgage, so think I have repaid 12k equity not including interest. Does this equate to around 51k total including rise in value?

Would I be right in thinking the conveyancing fee in selling is about the same as buying, around 1000 ± vat each way?

Can you use the same solicitor for each transaction?

I understand that estate agents charge around 1% so would cost me 1200, and purple bricks seem expensive at  £999. Are there any other options? List on social media etc? 

I have always had a 2yr fixed portable. Say I move half way through, is it free to port? Would it be worthwhile cancelling for a better rate and paying the penalty?

I don't know how this happens - does that 51k or whatever cash just hit your bank account?!

Are any of the other fees worth adding onto your mortgage if just porting?

Any other considerations are welcome 

monaymadlol

Looking at a property in the 170k mark.

I will probably deposit 45k, borrow 125k. I have 20 years left, I will probably keep at that, or back up to 25 years depending if I get a new deal and how much more repayments are.

I'm self employed with over 10 years steady income records 

KAP0365

If you move you usually put whatever equity you have in your current house down as a deposit. Unless you pay off the mortgage with cash first and then it will come to you in your bank account if you’re not buying anything else.

If you move during a fixed rate period you usually won’t have to pay an early repayment charge if your lender allows you to port (the property would also have to meet any criteria and you would still have to submit a full application if you wanted to borrow more thank your current mortgage amount). Add product fee to mortgage. Valuation etc you always have to pay upfront. 

Solicitors fees vary - but conveyancing for buying is more expensive than for selling. We completed on Friday, our sale cost around £800 and purchase was around £2800 before stamp duty, and that was cheap. Will depend on what property you’re buying and for how much - get some quotes online and locally.

Estate agents usually charge around 1.25% but sometimes as high as 1.5%. I wouldn’t touch purplebricks but some people rate them so up to you really.

Self-employed at the moment may be worth speaking to a broker.

For anything non-mortgage related there is a House Buying and Selling MSE board where people might be able to give you better answers re estate agents and conveyancers.