The costs of buying your home
Buying a home is probably the biggest financial decision you will ever make so it is worth taking time to consider whether it is the right choice for you.
What costs are involved?
You will need to take the following costs into consideration:
- mortgage repayments
- mortgage protection insurance in case you lose your job or fall ill
- life insurance to enable your family to pay off the mortgage if you die
- buildings and contents insurance against the risk of fire, flood, theft and accidents
- council tax and water charges
- gas, electricity, telephone, etc.
- ground rent and service charges may apply
- maintenance of the property
As part of the process of buying a house or flat you may also need to pay for:
- a solicitor or licensed conveyancing fees
- an independent survey
- the mortgage to be arranged
- the Land Registry fee
- Stamp Duty
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.Written quotations are available on request. Subject to status. Contracts of insurance may be required. A professional brokerage fee of up to 1.95% may be charged.
haart Financial Services is a trading style of Mortgages Direct Limited, authorised and regulated by the Financial Services Authority. Registered in England and Wales No. 2780784. Registered Office: Wellington House, Butt Road, Colchester, Essex, CO3 3DA.