Buying a new property costs.

secla · Post by **secla** » Sat Oct 13, 2012 9:52 pm

You can't really compare prices of houses in London to anywhere else. Of course you can buy a lot more for your money further north.

YouTube · Post by **Sailor** » Sat Oct 13, 2012 11:29 pm

There are quite a few factors here. For example:-
* Local search: you can do this yourself if you've got the time. Basically, you're trying to find out if there are things going on that will affect your property in the foreseeable future. (This includes making sure the seller has the right to sell!)
* Stamp duty (as mentioned already)
* Land Registry fees, which you can't avoid

DIY isn't for everyone, so remember that there are on-line conveyancers, too. This article came out last year: http://www.independent.co.uk/property/h ... 26312.html

Good luck, pal.

Greg · Post by **Greg** » Sun Oct 14, 2012 7:36 am

who's the solicitor max clifford?

You need to shop around, i bet you if it wasn't for the equity in your current property your fee's would be much more reasonable.

nitin_s1 · Post by **nitin_s1** » Sun Oct 14, 2012 6:25 pm

I will definitely be phoning and comparing prices and asking around.

Thanks chaps.

I will keep you guys updated.

A1ex · Post by **A1ex** » Sun Oct 14, 2012 7:14 pm

Go to the other end of the m4 but me and ted.

A 4 bed semi went for 50k at auction last week

judderod · Post by **judderod** » Sun Oct 14, 2012 7:50 pm

Most independant financial advisors I've dealt with have been crooks. Sorry to all the decent ones out there but that's just been my experience. They're all working on commission and some of the kick-back incentives are ridiculously phat. Sometimes the 'arrangement fee' for a mortgage basically goes almost entirely in the pocket of your IFA. If you approach the lender directly you can sometimes cut that fee out altogether.

I'd ask for a full cost break down, decide on the bits you actually want/need and get another quote for each. You might find the IFA has bundled in life insurance, buildings and contents, conveyencing insurance, i-don't-even-know-WTF-that-is insurance, etc.

Total legal costs including fees for land searches IIRC should be £2-3K with stamp duty on top of that.

nitin_s1 · Post by **nitin_s1** » Tue Oct 16, 2012 2:23 pm

Just to update..

Had a word with my solicitor (really nice guy) and he said that the price of £26K (quoted by the in-house mortgage advisor from the estate agent) was only an estimate and it would be no where near that. He reckons that they only said that just incase something comes up and you all have to throw in a couple of £ks,

He goes it should be around £15K ish with everything included from selling my property privately to buying the new one.

Post by **Donald** » Tue Oct 16, 2012 2:51 pm

Sounds a bit more reasonable!

nitin_s1 · Post by **nitin_s1** » Tue Oct 16, 2012 2:53 pm

Gorgon wrote:Sounds a bit more reasonable!

Yes!

Rich · Post by **Rich** » Tue Oct 16, 2012 3:36 pm

Result!

Lude Generation

Buying a new property costs.

Re: Buying a new property costs.