Cost of Buying - Cheap Mortgage Deals

A recent survey conducted in the Uk found that nine in 10 (88%) home buyers admitted they underestimated the cost of moving home and a quarter went over budget to the tune of £10,000 on average.

The Council of Mortgage Lenders says the average first-timer's deposit is £31,000 in London and £18,000 nationwide an increase of £5,000 in 1997.

It has been estimated that the average cost of removals from a three bed room semi-detached property in England and Wales comes to £379. The average cost of legal fees at £979 for a £150,000 house purchase, and estate agent fees averaging £1,490 on the sale of a £100,000 home.

As well as the cost of the property you will need to consider the following additional costs;

  • Land Registry Fee
  • Stamp Duty (1% for properties over £120,000; 3% over £250,000)
  • Local Searches
  • Other Searches
  • Solicitors/Conveyancer Fees
  • Valuation Fee
  • Home Buyers/Full Survey Fee
  • Lenders Mortgage Arrangement Fee
  • Mortgage Brokers Fee (though a few brokers - like us - do not charge a fee)
  • Insurance Premiums
  • Removal Costs
  • Reconnection of Services