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mortgage advisor costs

Stamp duty

This is a tax you pay when you buy a

property, based on the property’s

value.

 

Legal fees

You will pay fees to your solicitor for

doing the legal work associated with

your purchase. This work is known as

conveyancing.

 

Land registry

A fee for registering your ownership of

a property.

 

Estate agent

Payable to your agent if you are selling

through one. Typically this is a

percentage of the final sale price.

 

Removal company

Fees vary depending on how far and

how much you’re moving. You will

typically pay 50% as a deposit and the

rest on the day you move. It’s best to

get several quotations before deciding

which firm to use.

 

Mortgage valuation

This is for the lender’s benefit not

yours. It satisfies them that the

property is worth what you say it is.

Property valuation / survey

This is for your benefit and satisfies

you that there are no issues with the

property you’re buying. You may pay

for a full structural survey or a less

comprehensive homebuyer’s survey.

Mortgage lender’s arrangement fee

You pay this to the lender for

arranging your mortgage, either up

front or by adding it to your loan.

Arrangement fees can vary

significantly depending on the

mortgage product you choose.

 

Early repayment charges

If you repay your mortgage in

full, or in part but exceed the agreed

partial repayment level, before the

end of your mortgage term you can

expect to pay a fee. This can range

from a simple administration fee to

significant early-redemption charges.

Higher lending charge

 

Where you are borrowing a high

proportion of your property’s value

your lender will insure itself against

you defaulting and property values

falling. The lender will usually pass this

cost to you by adding it to the loan

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