As well as the cost of your new home, there are other costs to consider when deciding to move. These costs can vary depending on which companies you choose to use, so it is always worth approaching different companies for quotes at the start of your purchase.
Whether you choose to secure your mortgage directly with a bank or if you use an independent mortgage advisor, there may be fees to pay. These fees can include arrangement fees and survey fees. We can recommend a local financial advisor who does not charge arrangement fees for our customers buying at Heyford Park.
Solicitor’s Fees (including search fees):
Solicitor’s fees can vary drastically depending on which company you choose. Whilst online solicitors can be much cheaper in cost, we often find that they do not provide as good a service and that they often take longer to be in a position to exchange, which is why we always recommend our customers choose a local solicitor. It can also make a big difference if a solicitor has previously handled the purchase of another property at Heyford Park, as it generally means the process is quicker the second time round, as they know what to expect from the contract and may not raise as many enquiries.
The current stamp duty holiday means that for all single property sales which complete on or before 30th June 2021, there is currently no stamp duty to pay on the first £500,000 (there is still stamp duty to pay if the property is an additional property i.e. if you are an investor or buying a second home).
From 1st July – 30th September 2021, there will be a stamp duty transition period where there will be no stamp duty to pay on the first £250,000. From 1st October 2021, stamp duty will return to its usual amount (before the stamp duty holiday began).
For a full breakdown of how much stamp duty you are liable to pay, depending on your position and when you will be completing, visit: www.stampdutycalculator.org.uk
Other costs to consider closer to completion:
- Removals or van hire
- Carpets and flooring for the house (if these aren’t included as part of your purchase)
- Fixtures, fittings and furniture (including curtains/blinds/window coverings)
This is not a conclusive list and there may be other costs to consider, such as estate agent’s fees if you are selling your previous home.