Purchasing a property can be a daunting task, especially if you are a first time buyer as there are many different costs associated with buying and moving house that you may not be aware of.

Before you consider moving home, it's a good idea to familiarise yourself with each specific cost. This helps you to understand whether or not you're in the right financial position to continue, allowing you to begin a clear step-by-step process with confidence.

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Mortgage
It is of utmost importance that you consider the direct financial cost of any purchase you make, and we urge you to speak immediately to a Financial Consultant. Although most banks and building societies offer this service, you should be aware that they are only permitted to discuss their own mortgages and insurances with you, and therefore are not able to offer the best advice in all circumstances.

We therefore strongly recommend that you speak to our financial consultant as soon as possible, either immediately or as soon as we have conducted your market appraisal. We would be very happy to ensure our consultant contacts you directly, in order to do so please give us a call on 01274 600400, or send us an e-mail and we will do the rest!

In addition to your mortgage, there are many other costs to bear in mind, including:

Survey Fees
When you take out a mortgage your bank or building society (lender) will require a survey of the property. In most cases they will only require a 'Mortgage Valuation' but will offer the option of a 'Homebuyer's Report' or a full structural survey. Whichever you eventually have, you will have to pay for, with prices ranging from around £200 up to thousands.

Mortgage Arrangement Fees
Depending on your situation mortgage companies may charge fees for arranging your funding - once again we would recommend you speak to our Financial Advisor before agreeing to anything!

Legal Fees
Any time you buy or sell a house you will incur certain fees for 'conveyancing' - the legal process of exchanging property for money. You need to be sure that your solicitor is the right person for the job, and we would recommend excellent solicitors and conveyancing professionals to act for you in any sale or purchase. Their fees would vary depending on whether you are buying, selling or both, and whether the properties you are dealing with are leasehold or freehold.

Stamp Duty Land Tax
When you buy a house or flat at over £125,000 you will have to pay Stamp Duty - a tax - to the government. While the final sum will be calculated by your solicitor when moving, it can be worked out as follows:

Removals Companies
One of the final costs to be confirmed is that of physically moving all of your possessions from your old home to your new one. There are many removals companies who can take this burden from you, and offer anything from a basic 'pick up the boxes and drop them off' moving to a full packing and transportation service, and many different options in between.

Like choosing your estate agent, it is important to find someone you trust and get everything confirmed by them before you move! Most movers are happy to visit your home and give you a proposal based on whatever your needs are, but remember that the more they do for you, the greater the cost!  Also - prices on Fridays and the weekend tend to be higher, so make sure you know how much you will be paying well in advance!
You can save on removals cost by doing it yourself, but remember the cost of hiring a van and buying (or even renting) packing boxes.

Selling Costs
Don't forget - if you are selling a home then more costs may apply. See here for more information!