Q: Hi guys,
i I bought my first house 3 years ago, now worth 135k, but IAM now thinking of moving (got 50k profit in the house)
my FTB deal included most costs (notary, search etc) .
I need to know rough numbers of how much it would cost to move to a new house right 180k.
stamp = 1.800
= notary?
searches =?
estate agent =?
and everything Ive missed
cheers.
A:Check your EA doesn't add VAT onto thier %?
A:No, I was questioning your November 07 date.
Soz, yes my mother works for a EA and all the info she has states end period of November 2007 which is at least a good period for houseses to be sold by.
A:Hips… ooooh, great …ANOTHER EXPENSE!!!!
Yeah but you "got 50k profit in the house" in 3 years so that more then makes up for it 
A:Have checked June 1st… ..
No, I was questioning your November 07 date.
A:Have checked June 1st… another expensive (if you have not already mentioned this) is any early redemption fees on mortgages if you are on a fixed rate and want to change mortgage provider, plus if you use another provider or take out a new higher mortgage your existing mortgage will usually have to be closed and an administation fee will be applicable. Ours with the C&G (even though having a new higher mortgage with them last year) was ￡225.00….
James
It may well be an idea to see if your current mortgage deal is portable if there are redemptions fees payable, the redemption will apply regardless
db
A:Have checked June 1st… another expensive (if you have not already mentioned this) is any early redemption fees on mortgages if you are on a fixed rate and want to change mortgage provider, plus if you use another provider or take out a new higher mortgage your existing mortgage will usually have to be closed and an administation fee will be applicable. Ours with the C&G (even though having a new higher mortgage with them last year) was ￡225.00….
A:well, i realise its only a few hundred…but we have coped for years witrhout it….why now, WHEN I WANT TO SELL!!!!
A:If you put your property on before June 1st but have not sold by November 2007 you will have to purchase the HIP.
Or is it January 1st 2008?
A:Suddenly you're angry after you've made *ahem* 50K "profit"?
Which is it? A phantom profit or a lower cost in stamp duty?
And now homeowners are complaining about having to pay a few hundred quid to get their homes "MOTd" before selling?
Why not just take it out of all that "profit" you've made?
:rolleyes:
And yes, add another 500 quid for mortgage fees, or 1500 quid if you want a cheaper deal below 5%.
EAs generally charge less if you go exclusive with them.
A:Hips… ooooh, great …ANOTHER EXPENSE!!!!
A:Agents usually charge around 1.5% in our area though some will have special deals through out the year, so check if any our your local agents are for the summer you might save the VAT of be able to get a fixed price.
You want to also check there are no hidden extras like advertising fees if the property does or doesn't sell, make sure you have a no sale no fee contract, also see where they advertise and whether they have a website etcm and generally just see what they do with the money they charge.
Another cost you will be liable if you sell after JUne 1st (I think), is the HIP (Home Information Pack), which will become compulsary after that date and will cost the seller approximately ￡400.00. Hips includes Details of the title to the property; Local and water searches; Details of leasehold information;
An energy certificate etc. If you put your property on before June 1st but have not sold by November 2007 you will have to purchase the HIP.
A:so about 3k as a rough guide, give or take a few hundred.
thanks guys…i best get saving……
estate agents fees… how much is that on selling my house 135k?
is it usually about 1%…. making it £1,350?
A:I'm buying a 180K house.
Solicitors are £500 flat fee, plus VAT.
Stamp duty as you've mentioned.
Searches and disbursements – around £300
Job done.
Plus mortgage arrangements fees, valuation, survery/homebuyers report.
A:solicitor = allow up to ￡1000
searches = included in solicitors fees
estate agent = usually seller pays
surveys = ￡250 for basic, ￡500 for homebuyers report.
Deduct from the above anything that the mortgage provider will throw in.
Then you have the cost of delivery men / vehicles, repairs, new furniture and fittings, utilities startup charges. etc, which you have to estimate yourself.