| There are various costs associated with arranging a mortgage.
Some of the more common ones are detailed below:
- Solicitor’s fees. These will include
legal costs, land registry fees and search fees. They may vary
considerably so it is advisable to obtain comparative quotes.
- Stamp Duty. This is a tax payable on all purchases
over £125,000. Your solicitor will advise you of the level
actually due.
- Valuation report. The cost of this is based
on the value of the property. A basic valuation report is primarily
for the benefit of the lender. If customers require a more in
depth report on the property they may ask for a survey to be completed.
This does cost more than a basic valuation report.
- Arrangement fee/Booking fee. Some lenders
charge fees usually, but not always, in connection with special
schemes. These fees are often non refundable if the mortgage does
not proceed.
- Brokerage fees. Brokers or Intermediaries
who arrange mortgages on behalf of customers may charge a fee.
Details of this will be advised to customers at the commencement
of their discussions.
(Please note: Blue-print prefer not to charge brokers
fees)
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