FTB looking for advice please

homefromhome69

I'm 50 and looking to buy my first home. I'm looking around the £240,000 to a max of about £280,000 and have £175,000 for the deposit and costs. 
How much are the costs likely to be? I don't think I'll need to pay stamp duty, I know I'll need a solicitor [is about £1,500 likely for a solicitor?] Are there any other costs? I can borrow a friend's van and he'll help me move my stuff from where I currently rent, so that'll be the cost of a few pints for removals.
Anything I'm missing, or general advice would be much appreciated.
Thanks

Flugelhorn

surveys
mortgage arrangement fee
searches 
contingency fund (you always need to do STUFF) - whether it is get some curtains / light fittings / new locks etc and there are always things that need mending 

TheJP

I would also double the solicitors fess, that seems low for a £240K+ house, taking into account surveys, removals, packing gear and the things you may need to update £5k would be a ball park figure that is more realistic to your £1500 mark. 

Albermarle

Apart from the money the results from surveys can scare inexperienced buyers, especially if they do not know much about house issues. There are daily posts on here along the lines of ' I just received my survey and it said this or that, and now I do not know what to do'
The problem is the surveyors tend to be over cautious to cover their backs. So it can be difficult to work out what is a real ( maybe expensive) issue and what is just something of less ( or no) importance. 
Probably worth reading a few threads like that, and feel free to ask any questions if your survey looks a bit dodgy.

Myci85

Hi, 
Also a first time buyer so not much advice, but I've contacted a few local solicitors and asked for a quote for their fees so that I've an idea to work on. Also, out of 4 or 5 contacted, only 2 came back to me, so that is helpful to know which ones seem bothered enough to be responsive! Quotes I had were between £1800-2500 for similar price property. 

Flugelhorn

definitely useful to note how they respond to requests for quotes. I was getting an  oath sworn for probate and happened to ask at the desk  for a quote re the sale of the property, details were taken, and before I left the building I had a written quote and information & chat with one of the team about the process. 

I went with them - they were fine and have since had 4 other property transactions handled by them. The response at first request was crucial 

martindow

When you get quotes from solicitors for conveyancing, some will include all of the costs and others miss necessary expenses such as searches - you need to be sure you are comparing like for like.  Again, as has been mentioned for surveys, have a search for threads on this subject to get an idea of what should be included and 'extras' missing in some quotes.

Good luck in your house-hunting!

Hedgepigs

I'd also budget for a bit of overlap between your rental and purchase. It will likely be difficult to time your notice to completion, and having overlap is nice as it gives you more time to move and get the rental clean an ready to hand back with less stress too.

homefromhome69

good points everyone, thanks 

Bigphil1474

The costs I worked out for a £280k purchase for me - £1,800 solicitor, £1,500 moving costs, and £1,500 stamp duty (5% paid on anything above £250k)

For £240k purchase - the same except no stamp duty. The legal costs are based on what our local solicitors quoted for us (All 3 quoted similar rates). It would be a lot more if you were also selling a property. 
Obviously, if you have no moving costs that's that covered.
As you will be taking out a mortgage, there would be an extra cost with the solicitor I believe, about £200, and the mortgage fee with the provider - these can be added to the mortgage (though you will pay interest on that amount then). 

BobT36

I'm budgeting £4k for solicitor, survey and moving (within half hour). Northeast of England, sound about right? 
No house to sell or stamp duty, hopefully. 

Will have a good chunk spare to cover any imminent issues on moving in. (Boiler etc.) so that's sorted, too.