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Glossary

The Cost of Buying

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  • The costs can add up but the growth in products and providers is good news for buyers.
 

 

An arrangement fee is an administrative fee which is charged by the lender. It is to cover the cost of setting up the actual loan.

The valuation fee is paid for by the borrower to a qualified surveyor and is dependent on the type and value of the property.

Legal fees vary and the choice of using a solicitor or conveyancer is up to the buyer. Online conveyancing is becoming increasingly popular and offers a tracking system and set price.

The true cost of house buying. As well as the cost of the property you will need to consider the following additional costs.

  • Land Registry Fee Stamp Duty (1% for properties over £120,000 3% over £250,000)
  • Local Searches
  • Other Searches
  • Solicitors/Conveyancer Fees
  • Valuation Fee
  • Home Buyers/Full Survey Fee
  • Lenders Mortgage Arrangement Fee
  • Mortgage Brokers Fee
  • Insurance Premiums
  • Removal Costs
  • Reconnection of Services
 
 
 
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
This site is intended for UK residents only. The overall cost for mortgages for comparison is 7.6% APR. The actual rate will depend on your circumstances. APR variable and based on a usual case. There may be an additional charge for advise on these loans.

Bad Credit Mortgages is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority. Grovelawn Limited is Registered in England & Wales number 5030300. Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY.
Entered on the Financial Services Authority's Register - Register Number: 314204 - Consumer Credit Licence Number: 573287
The Financial Services Authority (FSA) do not regulate some types of buy to let, commercial, overseas mortgages, tax advice and credit or loans not secured on property.