Cost of buying a new house

[babyconverse]

Just after some guidance from those who have done it...

What fees/ costs do I need to budget for in terms of buying a new house and approx how much are things? This would be SE / London

TIA

If you are selling then estate agent fees which are normally a percentage of sale price, get a quote from a solicitor for their conveysncing charges and they should also let you know what the extra charges are for searches etc. Stamp duty is a big one depending on price of house you are buying. There will be survey charges if you want a private survey done and mortgage arrangement fees as well.

Were now nearing the end of buying our new build I can't remember exactly the amounts but we paid around 200-300 for out mortgage bits and pieces (the rest of the fees were paid for by the builders we are buying the house off) we then paid around 300 upfront to the solicitor for searches etc and I think that's about it....obviously then removals etc we had 1000 set aside for upfront costs. The rest like solicitor fees, estate agent fees, stamp duty etc come out the sale of the house (if you have enough equity) hopefully that helps a bit

Assuming you have nothing to sell and will be getting a mortgage:

Deposit - depends on cost of property and mortgage deal.
Stamp duty (find a calculator online where you just put in the sale price). You need the funds up front if you are not selling at the same time.
Solicitor's fees - get three quotes and a fixed fee is usually preferable to an hourly rate as you know how much you have to pay and this won't change even if there is more work for the solicitor than is normal if anything is not straightforward. The charges are usually related to the price of the property.
Fees for searches and registration - referred to as disbursements by solicitors. Around £50.
Mortgage fees - if there are any these can usually be rolled into the mortgage.
Moving costs - removals, mail forwarding, etc.

There may also be other costs such as indemnities to insure against various things which crop up during the buying process. These are often not very expensive, but can mount up.

I forgot survey costs - they vary depending on what kind of survey you go for.

All in all, selling one house and buying another, including stamp duty (the largest part of the total by far), removals, mortgage fees, surveys, searches, solicitors, epc etc I think it cost us about £14k to move

Deposit

Mortgage application fee (although you can add this to the mortgage)

Mortgage valuation (unless it is free as part of the mortgage deal)

Solicitor's fees (plus expenses - called disbursements - for searches and registration fees - I would budget £150-200 for searches (depends where you live) and then registration at the land registry is £190 upto £200,000 or £270 upto £500,000 - although if your solicitor does this online the fees are less.

Stamp duty - based on a % of the purchase price

Moving costs

For a new build, chek what is included in terms of:
Turf, fencing, curtain rail, curtains, lamp shades, carpet/flooring.
Then all the stuff included above for standard moving costs.