Costs Involved In Buying A House.
Here are some of the costs involved when purchasing a house. Below we also have a mortgage and stamp duty calculator for you to use.
Stamp Duty – Stamp Duty is a tax paid on the purchase of land or property. You can use the calculator below to determine how much tax you are liable to pay.
Legal Fees – These are fees that are paid to a conveyancer who is a legal professional responsible for transferring ownership of a property. The conveyancer may also be a solicitor.
Valuation – There are three types of valuations that are used when buying a property; basic, home buyers and structural valuation. Banks normally require one of those, but the most common one used is the basic valuation. Valuations normally confirms the value of the property and any defects.
Broker Fees – These are the fees charged by a mortgage broker for his professional services in arranging your mortgage.
For a more in depth discussion around buying a property you can speak to our in-house mortgage broker.
STAMP DUTY CALCULATOR
Please note the following:
Stamp Duty Land Tax calculation on a commercial property is different to a residential property. Read more here.