There are many costs involved in buying a home and you’ll need to make sure you have the money upfront to pay for them.
Stamp duty is the biggest cost you are likely to face when buying a home Stamp duty rates 1% on £125,000 - £250,000 3% on £250,000 - £500,000 4% on £500,000 and above As well as legal fees you’ll have to pay a range of other fees for searches and registering with the Land Registry. Typical disbursement costs Land Registry fees £200 Telegraphic transfer fee £35 Bankruptcy fee £2 Waterboard search fee £35 Land Registry search fee £5 Environmental search fee £35 Local Authority search fee £135 Typical costs of buying a £200,000 home Lender’s valuation £200 Survey £400 Mortgage arrangement fee £400 Legal fees £400 Stamp duty £2000 Disbursments £447 Total £3847 You will also have to add between £500 and £1500 to pay for moving house, depending on how much contents you have.
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Date: 1st, April, 2006 |
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