Calculating the costs of moving house.  How much does it cost to move house?  Conveyancing Solicitors, Hertfordshire.  Property Solicitors. Get your instant conveyancing quote.  HRJ Foreman Laws Solicitors

Calculating the costs of moving house. Who should you contact?

The need to save for longer to buy a new house or to get onto the property ladder is commonplace.  Reaching your milestone is a significant achievement. It’s important that when you reach it, you’ve budgeted for all the fees associated with buying a house, rather than find out later down the line that you missed something important from your list.

Here’s our quick checklist of who to contact for quotations to help you prepare for buying a house.

Your mortgage lender - Your mortgage lender may charge a booking fee, an arrangement fee and/or a mortgage valuation fee.  The costs will be based on a number of factors such as the type of mortgage you have and the property’s value.  Ask your lender to provide details.  You’ll also need to talk to your lender to calculate your deposit.  Lenders will typically demand that you have saved a proportion of the purchase price.  You’ll need to work out what you can afford. 

The Government - You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England.  The government website advises on the relevant amount you should pay - https://www.gov.uk/stamp-duty-...  

You may also be eligible for first time buyer relief.  Read our blog post here - https://www.hrjforemanlaws.co.uk/news/2018/07/stamp-duty-land-tax-first-time-buyer-relief-are-you-eligible

If you have a particular property in mind, calculate the council tax you’ll have to pay in advance too. https://www.gov.uk/council-tax

A Surveyor – consider a surveyor fee in your budget. This will detect any structural problems with the property before you purchase. Please note your conveyancer does not advise on any aspect of the physical condition of the property. 

A Conveyancer / Solicitor - A professional conveyancer will carry out all the legal work for you when you are buying and/or selling your home.  It’s important that you hire a professional experienced conveyancer who is able to offer you a fixed price for their services.    

You can get your instant conveyancing quotation here: 

https://www.hrjforemanlaws.co.uk/legal-services/conveyancing

The fee includes any disbursements the conveyancer  pays on your behalf to a third party such as searches, electronic ID checks, the cost of transferring, the land registry fee and any other necessary investigations.

Insurance company – your lender will require you to take buildings insurance on your new property which will cover you for a range of risks such as fire, floods or subsidence.  Optional, but also important to consider is contents insurance, life insurance and critical illness cover.

Estate agent - if you are selling a property through an estate agent you will need to add their selling fee to your budget.  

Removal company – often overlooked, but an important part of the process to make your move day as smooth as possible.  You may wish to budget for a fully serviced option or look at hiring a van do it yourself.  

And also - Consider whether you will need to decorate straight away and don’t forget to budget for the household utilities.

Finally - when it comes to the most important and expensive purchase in your lifetime, you need to know that you are working with experienced professionals.  Beware of conveyancers offering rock bottom prices or extremely short turnaround times. Do your research and don’t be lured into seemingly ‘cheap’ deals - there may be many hidden costs.  As the old adage says, ‘if it seems too good to be true, then it probably is”.

For professional legal advice to buy or sell your home email info@hrjforemanlaws.co.uk or call Hitchin 01462 458711, Welwyn Garden City 01707 887701.  

Get your instant conveyancing quote here - https://www.hrjforemanlaws.co....

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