|
It is no secret that buying a home is expensive but it is not only the money for the mortgage repayments that you have to think about. There is a whole host of other charges and costs that you have to pay throughout the process.
Admin Fee
Fairlake charge a non refundable admin fee of £250. This covers all costs that are associated with the processing of your application. From receiving your form through to contract completion.
Deposits
A deposit is not usually required, however, you may wish to place a deposit down against the overall value of the propety. Your lendor may also ask for a deposit, this should be determined at the outset.
Survey
A Home Buyers Report is required if the property you are buying is over the age of 10 years. If the property you are buying is under 10 years old then a normal mortgage valuation will suffice.
Legal Costs
There are several legal costs associated with homebuying that you will need to budget for (also known as conveyancing), the main costs are:
-
Solicitor's Fee
- Searches
- Land Registry
- Stamp Duty
It is advisable to get a quote from your Solicitor.
|
