The costs of buying a new home
亚博电竞网站Buying a new home is one of the biggest investments you’ll make and here is a quick guide to the main costs involved to help you work out your home buying budget.
Traditionally most mortgage lenders asked for at least a 10% deposit. Now through Help to Buy , the Government-backed home buying scheme you can move into your dream Keepmoat home with just a 5% deposit – making home buying more affordable. You can find full details of the Help to Buy options available here.
2) Stamp Duty
亚博电竞网站If your home is under £300,000 and you’re a first time buyer you won’t pay any Stamp Duty at all in England.
3) Valuation fee
亚博电竞网站All mortgage lenders will want to value your new home for themselves before they lend you the money – even on our homes which offer fantastic value for money. Each lender is different and some offer a free valuation service, others will charge – on average you should expect to pay around £150-£200.
4) Solicitor’s fees
亚博电竞网站When moving house you need a solicitor to carry out the legal work of buying (and possibly selling) your home – this is called conveyancing. Your solicitor will handle all contracts, provide legal advice and carry out local council searches, work with the Land Registry and transfer the funds to pay for your property. Costs can vary depending on whether you’re buying and selling or just buying, but budget for between £500-£1,500 and don’t forget to add on 20% for VAT.
5) Electronic transfer fee
Many mortgage providers charge a fee for transferring your mortgage money from themselves to the solicitor be sure to check but the usual cost is between £40 and £50.
6) Estate agent fees
亚博电竞网站If you’ve got a home to sell, there’ll be estate agents fees to pay – these usually range from 1-3% of the sale price plus 20% for VAT.
We can help make selling your home quick and save you a fortune too with our Easymove scheme亚博电竞网站. We’ll take care of everything from arranging valuations and negotiating the sale to recommending solicitors and mortgage advisers. And when your house is sold, we’ll pay the estate agents fee in full. So that’s one less cost to think about.
亚博电竞网站It’s important not to forget to budget for home insurance. Having adequate cover is one of the conditions your mortgage lender will set out before lending you the money. But this doesn’t mean you have to buy insurance from them. Shop around and don’t forget you may be able to get a better deal when you combine your building and content insurance into one policy.
8) Removal costs
亚博电竞网站How much or how little you spend on removals is up to you. A professional removals service definitely makes moving in day run smoother, but can cost anything from £300 to £2000. So it’s worth shopping around and comparing what you get for your money.
Hiring a van and doing it yourself is the cheaper option if you don’t mind a bit of hard work. Remember to recruit family and friends to help if you can and check our moving day guide for more tips.