When it comes to purchasing a home, the main cost that dominates the buyers is the sale price, and rightly so. The vast amount of deposit that the lenders require before considering your application has always been tough to achieve. While there are schemes that can help the buyer get on the property ladder, they can also lead to further issues, and advice should be sought.
However, to make what is already an expensive business seem even worse, there are associated costs that go with the purchase. Here are a few of the possible expenses that you need to have money set aside for in the application.
- Legal work, also known as conveyancing. Conveyancers look at all the sale’s legal aspects, plus they transfer the mortgage money for you; you don’t receive it directly. However, you can get ahead of this game by looking at Sam Conveyancing. Everything you need to know about conveyancing is there for you to make an informed choice.
- House Survey. Lenders will not lend on the property if they know that it is unsafe or not a good investment. To be fair, neither should you.
- Buildings insurance. Another thing that lenders require before they will agree to lend is that the home is covered for damage. They will require you to provide evidence of this.
- Council Tax. You will need to factor this in if you are moving up a band.
- Moving costs, whether you get a removal company, a man (or woman) with a Van, or just hire one and do it yourself, the moving of the stuff you already own will need to be costed.