Many first time buyers get caught out with all the extra fees that come with buying and owning a house. Even though there are thousands of buyers each year, there is still no clear indication of how much it all costs.
We have created a cost checklist to help you understand the key costs associated with purchasing a house, especially for first time buyers.
Checklist
Ο House Deposit
Ο Mortgage Product Fees
Ο Valuation Feed
Ο Survey Costs
Ο Mortgage Adviser Fees
Ο Conveyancing/Legal Fees
Ο Land Registary Fee
Ο Stampy Duty*
Ο Moving Fees
Ο Mortgage Repayments
Ο Home Insurance
Ο Mortgage Protection
Ο Furniture Costs / Renovation Costs
Ο Maintenance
Ο Council Tax
Ο Utilities
*Stamp Duty for First Time Buyers is currently 0% for the first £300,000 of a £500,000 home. This threshold does not apply if the property you are buying costs more than £500,000 and you'll pay the normal rate of stamp duty.