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russell@fineants.co.uk

Other Fees and Charges

When providing you with mortgage quotes we will let you know about all the fees and charges on that particular mortgage. As we deal with the whole market we will find the best deal for you.

General fees you can expect to incur from purchasing a property

      Legal Fees £500 to £2,500  Click here for an online quote

              You will need a solicitor or licensed conveyancer when you purchase a property to carry out the legal                   work for you

      Searches £180+

              You have to pay for land registry and local authority searches. There may be additional searches                   required- mining reports, radon gas.

      Stamp Duty

              This is a property tax on properties costing more than £125,000. The % duty will depend on the                   purchase price of the property.

            £125,001  to £250,000       - 1%

            £250,001  to £500,000       - 3%

            £500,000 and above           - 4%

      Valuation Fee £100 - £500

               This is charged by the lender and depends on the property price. It allows them to confirm the security                    value of your property.

      Survey Fee £300 - £700   Click here for a quote

               You should always consider having your own survey. After all this is likely to be your most expensive                    purchase. There are three different levels of survey ranging from a simple inexpensive basic report to a                    full structural survey. Make sure you speak to the mortgage company beforehand to make sure you                    choose a surveyor they know, if not they may ask for there own survey which you will have to pay for.

       Booking Fee

               Generally for fixed rate mortgages, often added to the mortgage.

       Completion, Administration Fee £150+

               Can be charged once the mortgage is completed, usually added to the mortgage.

       Higher Lending Charge

               The fee is normally paid when you borrow more than 75% of the value of your property. Some or the                    entire fee may be used by the lender to obtain indemnity insurance to act as additional security for its                    sole benefit. If this is the case the lender will provide you with a written explanation.  Such insurance                    will not protect you if your property is subsequently taken in to possession and sold for less than the                    loan amount. You will remain liable to pay all sums owing, including arrears, interest and your lenders                    legal fees. If a claim is paid to your lender under such insurance, the insurers generally have the right                    to recover this amount from you.

        Building & Contents Insurance - use our online quote system

               You need to insure your home for the rebuild cost, this may not be the same as the market value.

                   Contents insurance is there to insure all the things in your home.

        Protection Insurances - use our online quote system

               There are various different insurances, most people arrange life assurance to pay off the debt in the                   case of death, you can also include critical illness cover with this. Accident Sickness & Unemployment                   cover ensures your mortgage payments are covered if prevented from working due to an accident, sick,                   unemployed.

        Removal Firm - Links

               Contact 2 or 3 different companies.