List of costs when buying property in the UK

[totallyproperty]

There are many different costs to take into account when looking to buy property in the UK and while these will change on a regular basis the list below is indicative at this moment in time: –

Mortgage deposit 20%

Mortgage arrangement fee anything up to £2000 (this can be added to the value of your mortgage)

Property valuation fee anything from a few hundred pounds to a couple of thousand pounds (you may get the lender to contribute to this)

Higher lending charge of anything up to 1.5% of your mortgage which will depend upon the size of the mortgage and your deposit

Local council searches ending up to £400

Legal costs anything up to £1000 depending upon how complicated the transaction is

Stamp duty between 0% and 7% depending on the value of your property

Survey cost can be in excess of £600 depending upon the type of survey

Estate agent fees can vary between 1% and 3% and you should negotiate the best deal you

Buildings insurance fee can be charged if you have your home insurance through anyone other than the mortgage provider -this fee can be anything from £25 upwards

 

[postcodr]

You doubled-up on a couple of these ;-)

Don't forget if it's a BTL property you're investing in, you'll also need to factor in:

- Gas safety certificate £100
- Energy Performance Certificate £75
- Refurbishment (lick of paint!) £500-£1500

 

[totallyproperty]

Thanks Postcodr