The costs involved in buying a property
Buying a property can be a complex process, and there are a number of costs that need to be considered in addition to the purchase of the property itself.
The cost of the property is by far the largest expense, and unless you are buying the property outright, it will be covered by the sum of your deposit and the amount you borrow from the lender (your mortgage).
As a rule of thumb, the more money you put down as a deposit, the better deal you can get on the interest rate on your mortgage. Keep in mind, however, that putting all the money you can down as the deposit is not necessarily the most sensible thing to do, as there are other costs you will need to cover, and you may want to keep some aside in case of an emergency.
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We do not charge for advice. We do charge a one-off lifetime fee for the arrangement and processing of your mortgage; our typical fee is £299 and becomes payable only once you have the keys to your property.
*Source: Money Advice Service website.
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