Buying a New House. So Expensive!?

We are in the process of buying a new house (first time buyers). It is soooooo expensive.





Solicitor 拢1000


Survey 拢250


Arrangment Fee for the mortgage 拢500





Is there a cheaper way of doing this part?Buying a New House. So Expensive!?
Believe it or not they aren't bad figures, some mortgages have arrangement fees of over 3% of the mortgage and the survey is reasonably fair, you could probably find cheaper solicitors it depends if you are willing to phone some up as usually for a straight forward purchase they will charge between 拢250 - 拢650 depending on where you live.Buying a New House. So Expensive!?
You need to shop around as a first time buyer for the best deal that may hold a benefit package to first time buyers that would cover a lot of your cost. The Booking fee for a mortgage could be added to the mortgage if the affordability is there their for the lender has to prove your good for the extra money. Talk to the Abbey I Know they have package deals that will suit you also be careful as a first time buyer as to weather or not you are receiving advice or not with regards to the mortgage you are taking out most Brokers offfer a non advised service.Dont forget their is other things you may need or want to protect you with the mortgage you are about to take on.Hope this helps. All the advice you receive at the Abbey to discuss possibly being a first time buyer is free.
Get a Mortgage without an arrangement fee. ING Direct are great.
You can't skip this process unless you are buying for cash. The mortgage lender will insist on the survey and a solicitors involvement....
Thats nothing compared to what it costs to sell one - our last move cost 拢9K in tax,拢2250 estate agents and 拢1600 legal, plus 拢300 mortgage, 拢1000 survey and removals costing 拢500.





However I would suggest that you shop arround for best deals : sometimes estate agents have arrangements for convayancing with local estate agents and can save money, the survey sounds cheap and is not a FULL one which I would recommend unless you are buying a brand new house.
In the grand scheme of things these aren't that bad prices. Seeing as you need a mortgage you need a survey (so you both know how much the property is worth), and you need a solicitor to do the conveyencing.





There are lenders who may waive arrangement fees, and there are also some property companies (new builds) that will throw in things like survey and costs for free (particularly for city centre new builds, but also other ones).





That said, you do end up paying for it one way or another - even if someone is giving you something 'free'. In the example of new builds it will likely be you are paying marginally above the market rate.





Developers, lenders, solicitors, surveyors - they all want to make their money someway.
We had the same trouble last year as first time buyers, I just suggest shopping around, don't go for the first deal you see, do some research on the internet etc good luck and happy house hunting!
got to be done im afraid, you could end up paying survey costs a couple of times if your offer is beaten, check with your estate agent ours did an offer that if it falls through after a survey has being carried out they will pay for your next one. but yes its very expensive, im glad im settled in my love nest it was a very draining time when we were house hunting. hope you find your dream home soon
Sounds about right, ask the developers about paying fees - they'll be pretty keen to keep buyers at the moment - especially those that are chain free and can complete speedily!
Appoint a mortgage broker and ask him to find you a fee free deal. This way you will have no arrangement fee no legal fees and no survey fees. However you will have to pay a brokers fee for his work but if you negotiate with him this should cost you no more than 拢300. So this could mean a big saving. Good Luck.