lthough it’s a big solicitors fees for conveyancing
undertaking, buying your are normally a percentage of the
own home is one of the cost of your mortgage, plus there
wisest moves you can make. Rather are other charges involved. Check
than pouring money away on rent, with your solicitor what his or
you will effectively be investing her bill will be. Stamp duty is a
in your property with every tax that applies on property that
mortgage payment. costs over £100,000. If you’ve
used a mortgage advisor, there
You will also become a will be another fee to pay,
‘homeowner’, which should please probably of a few hundred pounds.
your bank manager no end. You may
find offers of loans and credit Surveys
suddenly become a lot more
frequent, and when you’ve just These can prove costly – each
moved into a new home it can seem survey will set you back around
tempting to borrow money to kit £150 to £200 pounds. Sometimes
the place out. But be careful! the surveyor will ask for a
Most repossessions happen in the report from a specialist – for
first year of the mortgage, when example, a timber professional –
people find they have that could cost the same again.
overstretched their finances and If there are problems with the
can’t meet the repayments. These property that need to be
are a few factors you’ll need to remedied, you may find a portion
consider before you move: of your mortgage withheld until
the work is carried out. This is
Fees and Stamp Duty called a retention, and means
you’ll have to find the extra
You’ll find there are quite a few cash yourself.
extra costs involved here –
Moving Costs payment protection in case
there’s a sudden change in your
You could move your entire circumstances. This means your
household in the back of your payments will be covered for a
car, but it’s not the ideal set period of time, to give you a
option! Hiring a van or removal chance to get back on your feet.
men can be quite expensive – but
it might make moving less Furniture and Renovations
stressful.
While not necessarily essential,
Insurance re-furnishing your new home
should be enjoyable! Make sure,
Remember you will need to pay however, that you are not
buildings insurance as a overstretching your budget.
condition of your mortgage. You
may also choose to take out
About the Author:
Joe Kenny writes for the UK Loans Store where you will find information and reviews of the latest loans and offer more information on secured loans and other loan topics available on site. Visit Today: http://www.ukpersonalloanstore.co.uk
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Joseph Kenny
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