Buying a property ...
Discussion
Good afternoon
A rough guestimate if you will ... If I were to purchase at property at £160k.
How much of a deposit will I need MINIMUM and will I need to factor in solicitors fee's etc on top of this?
I am merely thinking aloud and won't be moving just yet but your help is appreciated.
Sorry for the random question.
Help is appreciated.
A rough guestimate if you will ... If I were to purchase at property at £160k.
How much of a deposit will I need MINIMUM and will I need to factor in solicitors fee's etc on top of this?
I am merely thinking aloud and won't be moving just yet but your help is appreciated.
Sorry for the random question.
Help is appreciated.
Based on your figure of £160k
Mortgage wise, you're really looking at a very minimum of 10%, unless you're going through one of those half buy/rent schemes that some developers are offering. In order to get decent mortgage rates, you're looking at around 20-25% Deposit.
Other Fees :
Stamp Duty - £1600
Solicitors Fees - Budget for around £1000
Morgage application fees + house survey - can range from £300 to as much as £2000 depending on product chosen.
Those are the base minimum costs, and don't include lots of other things you may think of whilst moving, such as buying furniture, redecorating, installing TV aeriels (if applicable), removal costs etc etc.
Its an expensive game!
Mortgage wise, you're really looking at a very minimum of 10%, unless you're going through one of those half buy/rent schemes that some developers are offering. In order to get decent mortgage rates, you're looking at around 20-25% Deposit.
Other Fees :
Stamp Duty - £1600
Solicitors Fees - Budget for around £1000
Morgage application fees + house survey - can range from £300 to as much as £2000 depending on product chosen.
Those are the base minimum costs, and don't include lots of other things you may think of whilst moving, such as buying furniture, redecorating, installing TV aeriels (if applicable), removal costs etc etc.
Its an expensive game!
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