• Tel: 01224 784030
  • Fax: 01224 784888
  • Unit 14 The Green, Berrymuir Road,Portlethen, Aberdeen
  • AB12 4UN

 

Costs associated with the property

Properties are money pits. Before you even start throwing money into decorating and furnishings, and prior to getting the keys, there are some extra costs to budget for:

You'll need to feel confident that the property you are buying hasn't got any nasty surprises lurking in the brickwork, foundations or woodwork. The compulsory mortgage valuation report won't go into details. It will simply tell the lender that if you default on payments, they will be able to get their money back. So, for peace of mind, it's advisable to appoint a professionally qualified surveyor to conduct a more detailed survey.  There are two types to choose from - a Homebuyers Report or a Full Structural Survey.

Homebuyers report

Costing from about £250, depending on the size of your property, a homebuyers report will give you a good indication of the state of the property and its level of repair and maintenance. It will encompass all visible parts of the property, such as the condition of the roof.  The report will also advise whether the surveyor recommends any further specialist surveys.  If you uncover major faults, the survey will enable you to negotiate with the seller for a reduction in price or for them to carry out the repairs before you move in.

Full structural survey

Costing between £300 and £1,000, depending on the size of the property, the Full Structural Survey is the most comprehensive – and the most expensive.  The surveyor will check the property thoroughly, looking at everything that is visible or easily accessible to examine the soundness of structure, its general condition and all major or minor faults.

If you would like this sort of detailed inspection, the surveyor carrying out the mortgage valuation for the lender can usually conduct a homebuyers report or full structural survey at the same time. Combining the two could save you money. 

Legal costs

Land and Buildings Transaction Tax - Stamp duty

Mandatory insurances

Your home may be repossessed if you do not keep up repayments on your mortgage.

For mortgage advice we charge a fee of £150 and we also receive commission from the lender.

 

 

Free Consultation

You can have a free initial consultation. There's no fee, no catch and no obligation on your part.  We can call you to arrange a time that suits you.

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