FTB - What were your fees?

Tally04

I am hoping to buy my first home March / April next year. For around 200k with 10% deposit
The bracket generally given online for Fees when buying is quite vague. 
To give me a realistic idea -  can some of you kind people tell me what your fees came to when when purchasing a home?

K_S

@Tally04 Are you referring to fees associated with the whole home-buying process or just the mortgage part of it?

For the mortgage, the main fees that may be involved are -

Broker fees - plenty of fee-free brokers out there, as well as those who charge. The upper end (for non adverse/specialist cases) is usually around £500 charged by brokers tied to EAs. If your case requires adverse the fees can go up further as the application involves a lot of admin and to and fro.

Mortgage product fee charged by the lender - this can range from 0 all the way to £1,000+. Almost all lenders will allow you to add this to the mortgage if needed. It's important to note here that the aim is not to minimise this fee as higher fee products will usually come with lower interest rates, so it's the total cost that matters (interest plus fees over the fixed period) for the amount of borrowing.

Valuation fee charged by the lender - this can be zero for some products but otherwise expect it to be in the £250-500 range.

I don't know how helpful this was, given that it's a wide range!

For an FTB example for a client that I just applied for today buying in the 300-350k range-

Broker fee was nil

Mortgage product fee was £999 (added to the loan so nothing paid upfront)

Valuation fee was £500

Hope that helps!

Tally04

It does, thank you! I do not think I will paying a broker fee, and if i can get the product fee added to mortgage, I will. 
I had estimated
Valuation fee £250
Legal fees £1000 
Surveyor £500 

ShowMeTheDough

Solicitor/conveyancer - My solicitor was around £1.2k all in (including searches etc.) You can get cheaper than that but as I was working overseas at the time I wanted a local, reputable one that I knew would be quick to respond to queries. I think you can get a basic online conveyancing service for as little as £700 ish, but I believe you get what you pay for.. 

Broker - a lot are fee free, but mine was £300 and worth every penny (I needed an Expat mortgage so wasn't a straightforward application). 

Lender valuation - this was about £300 but I upgraded to a full Homebuyers Report, with a total cost of £550.

Mortgage application fee - mine was £995 (Natwest) which was added to the mortgage balance. 

Stamp duty - if Stamp Duty charges return to 'normal' by 31st March, as a FTB you won't pay anything for properties up to £300k in value. If you happen to buy before then, it's free up to £500k with the current Stamp Duty holiday. 

I think that's it (!). I was a total novice with regards to house buying and honestly didn't have a clue about who I needed to engage and what the process was. The MSE house buying guide is brilliant for laying out the process and giving an idea of timescales, I'd recommend giving that a read. 

Thrugelmir

Obtain quotes from several solicitors. The type of property you buy will impact on the total cost. Leasehold involving more work. 

janoid19

I'm a FTB and currently going through the process. So far my fees are:

Mortgage Advisor - £150 (was £299 but she gave me a discount)
Solicitors fees - £1100 (got quotes from around £900 to £1300 but these were recommended as being on the ball)
Mortgage valuation - £200
Mortgage fees - £999 (however this is going to be added onto my mortgage balance)
Homebuyers survey - £449 (I could have added a homebuyers survey to my mortgage valuation for an extra £200 but I wanted an independent one done)
Damp Survey - £200 (Homebuyers survey found damp so I got a damp survey just to be sure)

I'm hoping this is everything! haha 

MovingForwards

Fees vary throughout the UK and based on the property price you have agreed.

You appear to be in NI, most of the above figured will be English members.

In Scotland I paid:
15% mortgage deposit

£1115 all in for my solicitor, city practice and discounted
£1495 mortgage arrangement fee

£300 valuation fee
Plus my broker fee on top

Then there was removal cost £200

There were some white goods included in the property, I already had a freezer but had to buy a fridge £109.99 plus delivery, aside from that I had furniture because the previous rental was unfurnished aside from white goods.