Money to pay upfront.

Rebecca01

After having an AIP then a full application what money would I have to spend upfront. I get paid in two weeks I am at the full application waiting stage but will I have to pay a valuation fee or solicitor fees before pay day at the end of the month?

Thanks

K_S

@Rebecca01

- whether there is an upfront valuation fee or not depends on the product that you are applying for. If there is one, it will need to be paid at the point of full application.

- the product may come with a product fee which can usually be added to the loan so doesn't necessarily need to paid upfront

- usually, the conveyancers will ask for a few hundred pounds initially for disbursements 

Rebecca01

Thank you. I think I would like a home buyers report so useful to know I would need money for that. 

Would it be ok for parents to pay as part of their gift?

Thanks 

K_S

@rebecca01 Sorry I should have been clearer, you can pay the valuation fee (or lender homebuyers report fee) on the lender portal using a credit-card as well, so you don't necessarily need the cash available in your bank account upfront.

It should be fine for your parents to pay it as well, all it asks for is card details.