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Saving up for a mortgage deposit will be at the top of the list for anyone with their heart set on buying a house for the first time. We want to help you find your dream home and enjoy living there. That's why it's important to take into account all costs when buying a home, not just the property price tag.

But what prospective property owners often don't realise is there are a number of other costs - sometimes running into the thousands - which also need to be thought about before it's possible to work out how much of your savings can be used as a deposit.

To help, we’ve put together a list of fees and additional expenses you may encounter when buying a home. It’s a scary list, but Bothams’ expert team will be with you every step of the way.

Deposit - mortgage providers will need you to save at least 5 per cent of the cost of the home you want to buy,

Mortgage set-up fees - some lenders charge a mortgage booking fee (or equivalent), usually to reserve funds on a fixed or tracker deal.

Mortgage arrangement fee - some mortgage products will incur another upfront fee, which some lenders call an ‘arrangement fee’. This may be in addition to a separate booking fee

Valuation and survey fee - this is charged by a mortgage lender to value the property you are buying.

Mortgage account fee - this is a single fee charged by the lender when you take out your mortgage to cover set up, maintenance and closing down costs of your account.

Higher lending charge - if you're borrowing most of the value of the property, the lender may charge a fee to take out insurance cover.

Searches - you can incur a fee for searches to the local council to check whether there are any planning or local issues that might affect the property’s value. They may also instruct a drains search at the same time.

Legal Costs - you will need to pay your solicitor to carry out the legal work.

Stamp Duty - this is paid on land and property transactions in the UK. This is paid by the buyer and costs between 0 per cent to 7 per cent of the purchase price of the property.

Survey - this is paid by the buyer to a surveyor to check for structural defects on the property.
There are three types of survey (Home Condition Survey, Homebuyer’s report and Building or Structural Survey) and they vary in price depending on which one you choose.

Moving costs - this cost is paid to the removal firm to move, pack and relocate your possessions. 

Telegraphic transfer fee - paid by the lender to transfer the mortgage money to the seller’s solicitor.

Building insurance fee - some lenders will charge their customers if they choose to take out buildings insurance with a different company.

You may not have to pay all these fees but, we’re sure you’ll agree ‘forewarned is forearmed’!