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Home Buying Guide Contents

Costs of Buying a Home

Here's the breakdown of the various costs involved when buying a home. Click on each heading for further details


Buying Costs

The Deposit

Conveyancing Costs

Stamp Duty

The Valuation and Survey Costs

Mortgage Lender's Application Fee


Insurance Costs

Mortgage Indemnity Insurance


Buildings and Contents Insurance

Mortgage Payment Protection Insurance


Moving In Costs

Furnishing, Re decorating etc

Moving in / Removal

Running costs to bear in mind



Cost estimate summary

 

 

 


 


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Furnishing, Re decorating etc.

Does it just need a new colour scheme or are you planning a major refurbishment?

Before proceeding consider the cost. DIY or professionals?

If the latter, try and get more than one quote beforehand and ensure they're clear on what you want doing. (Always get a receipt for work done).

See also the possible extra cost if you buy a Value Added Home.

 



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Costs of Buying a Home

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Moving in / Removals

DIY Van Hire -c £60 plus for the day or weekend.

But can you bear the stress of your friend's younger brother not turning up, as promised, after a late night out?

Removals firm -

Fully insured? Is there
any "excess"?
Any overtime?
It should be an
all inc. quote.



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Costs of Buying a Home

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Read about How to get a Mortgage

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Running costs to bear in mind


Cost estimate summary

The other costs involved in buying your home.

These show rough costs where possible. Shop around and the prices will vary greatly

  Mortgage Lender's Application Fee Avg £800 or "free"
     
  Conveyancing fees £400 plus
     
  Local Authority Search £100 to £200
     
  The Valuation Costs £100 to £250 plus
     
  Basic Survey Costs from £250 to £400
 

or

 
  Full Structural Survey from £450 min
     
  Mortgage Indemnity Insurance: expect to pay roughly £1,500 per £100,000 of purchase price
     
  Buildings and Contents Insurance £500 plus varies hugely dep on area
     
  Mortgage Payment Protection Insurance Expect to pay less than £2.50 for every £100 of monthly mortgage payments
     


Plus the following "Variables"

The Deposit

Stamp Duty

Land Registry Fees

Furnishing, Re decorating etc.

Moving in

Plus

Council tax


Any Service Charge/Ground rent

Gas and electricity bills

Water rates

 

See Full Guide to Costs of Buying a Home

and Costs / Fees of a UK Mortgage

 

To read more on this subject please see the list below or your mortgage guide or your home buying guide

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