First time Buyer Advice

[tmrt84]

I am after some advice. My boyfriend and i are currently saving for a deposit for a mortgage. We are first time buyers.

We are looking at about a �75000 mortgage but we are unsure as to how much we will need to save in total for all costs - including a 5% deposit.

What other costs would we need to acount for? how much should we think about for solicitors fees, stamp duty, etc. We were thinking about we would need around �7000 but this is a total estimate.

Your advice would be much appreciated

[Rach4018]

A 5% deposit on top of a �75k mortgage is �3937.50. So the properties you are looking at are arounf �79k.

I just bought a property for �115k legal fees were about �1000 based on the purchase price, mortgage and survey fees were �800. You won't pay stamp duty if its under �120k.

When i was trying to find a solicitor i rang a few up to get general quotes they are were all really helpful.

�7000 would be plenty remember hiring van costs and furniture and all the little bits that add up.

[lady_p_gold]

When you finally find a property, pay attention to the local authority search.  People pay for a local authority search but they never question what they are getting because they are not aware that there is a full search, and a personal search.   A personal search has a statutory fee of �11 but many people do not ever realise that that is what they got !