Here is a rough guide to the costs you can expect when moving:
IF YOU ARE SELLING A PROPERTY
ENERGY PERFORMANCE CERTIFICATE (EPC) payable via estate agent or EPC provider. You will need an EPC before you can market your property. We can retrieve existing EPCs (if one has been done) from the online EPC Register, or arrange one for just £45 (typically).
ESTATE AGENT FEES payable to estate agent on completion (via solicitor). A traditional agent (in Bromsgrove) typically charges a minimum of 1% of your property sale price, plus 20% VAT. Our fees are typically half this.
CONVEYANCING FEES payable to solicitor on completion. This is the fee for legal work on your sale. Quotes vary so we recommend you get a detailed solicitor’s quote. We can quote and instruct a reliable solicitor if required.
OTHER LEGAL COSTS payable to solicitor on completion. ‘Disbursements’ on a sale are few so should not cost much.
REMOVALS payable to removal company on completion. Typically from around £500 to over £1,000 depending on property size, distance and service (e.g. self pack or packing service included). Ask us for a free, no obligation quote.
IF YOU ARE BUYING A PROPERTY
STAMP DUTY payable via solicitor on completion:
0% charged on the first £125,000
2% charged over £125,000, and up to £250,000
5% charged over £250,000, and up to £925,000
10% charged over £925,000, and up to £1,500,000
CONVEYANCING FEES payable to solicitor on completion. This is the fee for legal work on your purchase. Quotes vary so we recommend you get a detailed solicitor’s quote. We can quote and instruct a reliable solicitor if required.
OTHER LEGAL COSTS payable up front and on completion to solicitor. Varies depending on property type, value and area. Quotes vary so we recommend you get a detailed solicitor’s quote. We can quote and instruct a reliable solicitor if required.
VALUATION / SURVEY payable via lender or to surveyor directly. A basic valuation is required with a mortgage and can be free with some deals. Prices increase with property value and a more detailed survey adds significantly more.
MORTGAGE LENDER FEES payable to lender up front, on completion, or may be added to your mortgage. Some mortgage deals have an up front ‘booking’ or ‘admin’ fee typically £99 or £199. Other lender fees e.g. ‘arrangement’ fees are usually added to the mortgage. If you are tied into your existing mortgage deal, there may be a significant early repayment charge (ERC) to pay, unless you are able to 'port' this deal to your new property. You should get advice as to whether this is best. as sometimes an ERC is worth paying e.g. if your old deal was too high and a new one will save you more than the ERC you lose.
MORTGAGE BROKER FEES payable to adviser on application and / or on completion (usually). If you are using a mortgage adviser they may charge a fee. The firm we recommend quote a typical fee of £95 on application and £200 on completion. www.guestindependent.com
For a more specific quote and further guidance please contact one of our advisers on 01527 306425.