Longridge: 01772 783314 | Garstang: 01995 602129 | Lancaster: 01524 581306 
 
Longridge: 01772 783 314 
Garstang: 01995 602 129 
Lancaster: 01524 581 306 
When you’re buying your first property, you may not consider all the expenses that come with it. We don’t blame you – it’s easy to not realise what everything will cost. So, to help you out, our team of property solicitors Lancaster have put together a list of things you need to remember. If you’re prone to forgetting, why not print it out for future reference? 
 
Pre-house purchase costs  
(Based on a property with a mortgage, although some apply for cash purchases, too). 
 
Usually, you’ll find yourself paying out for the following:- 
 
A mortgage broker’s fee – this can range, depending on the area you live in, and who you choose to carry this out for you, but according to The Mirror, the fees are an average of £500.00, however brokers’ charges can be based on hourly rates, commission, a percentage or a combination of the options. 
 
A mortgage valuation fee – a fee payable to the mortgage company to check the value of the property, and to obtain the mortgage offer from them. 
 
A property survey – some people don’t realise that the valuation survey carried out by your mortgage lender, isn’t the same as an independent survey. If you decide to have this carried out as well as the valuation report, this could set you back anywhere between £500.00 and £1,300.00, if not more depending on the property size, area and type of survey you have. As with most things in life, it’s definitely worth shopping round to find the right one for you. 
 
Conveyancing (your property solicitors Lancaster’s job) – this is the legal process of transferring the property from the seller to the buyer, and it involves a set process of around 6 to 8 weeks, which you can read about here. According to moneyadviceservice.org.uk, the average legal fees are £850.00 to £1,500.00 (including VAT) plus disbursements. Again, this differs depending on property value, whether you are selling or buying, what area you are in, etc. However, as your property solicitors Lancaster, we value repeat business, so we don’t charge this much. Our property sales and purchases start from just £250.00 plus VAT, plus disbursements. 
 
The usual disbursements in a property sale total around £15.00 for Land Registry documents. However, with a purchase, the disbursements can be a bit more. Normally, these are property searches (read our blog about these, here), a fee to register the property with the land registry (again, this varies depending on the property price, but you can see the Land Registry guide, here, Land Registry searches of £2.00 per person, and a fee to search against the property of £3.00, and Stamp Duty Land Tax, which again depends on whether you are a first time buyer (see our Property solicitor Lancaster’s blog, here), the property price and the area (London, or outside of London). You can contact our team to find out the full legal fees involved, here or on 01524 581306. 
 
Removal fees – unless you’re lucky enough to have someone with a large van on your speed dial, you might have to pay an average of £50.00 to £60.00 per hour, according to removalreviews.co.uk
 
 
Post-purchase house costs 
 
Whilst these include monthly bills, you may find yourself paying out for:- 
 
Council Tax – this is based on a tiered system, and on the area you live in. You can find out from your local council, or perhaps even the estate agents, what the council tax will be. 
 
Home insurance – normally buildings and contents cover is recommended, but this should protect the property in case anything happens, and do not forget the all -important contents insurance- those 60inch TVs and luxury sofas, don’t come cheap, remember). 
 
Mail re-direction costs – you may decide not to pay for this service, but it can be easier than changing your address with every single company you’ve ever signed up for. Trust us – there’s more than you remember! 
 
Utilities – according to moneyadviceservice.org.uk, the average costs of utility bills are £58.00 for electricity, £56.00 for gas and £34.58 for water. Whilst some of our team’s bills certainly aren’t that low, maybe yours will be. 
 
TV – On top of the dreaded TV Licence at £12.88 per month (at the moment, although there were talks of this increasing), you may also wish to purchase a TV and Wifi package, which costs an average of £30.30 per month, again according to money advice service. 
 
So, our team of property solicitors Lancaster haven’t managed to think of everything, but let us know if there’s anything you think we should add to the list, and make sure to add any of your personal payments, such as a car loan or pet insurance, to your list, so you can budget properly. 
 
If you need a quote for your sale or purchase, contact our team on 01524 581306 or use our contact us form, here
 
MG Legal - Your Local Solicitors 
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