 Fees
You have to pay conveyancing fees which are subject to VAT, disbursements (Land Registry and Local Authority searches and various others to make sure there are no horrendous issues likely to crop up eg. flooding), Stamp Duty Land Tax (on properties between £125K and £250K it's 1% of the purchase price). Best bet is to find a house or flat you like then contact a few solicitors and get quotes for the conveyancing and an estimate of the disbursements. If they are local, they'll know what searches are needed and how much they will cost. Bear in mind that, with solicitors conveyancing fees, cheapest is not always best. You can get cheap non-solicitor conveyancing but buying a house is a stressful thing and having grief from your bucket shop conveyancers won't help. Ask your mates if they can recommend anyone. Be prepared for considerable expense and maybe arrange with your lender to lend enough to cover those costs once you know what they are. You will also have a survey fee to pay. You can just have a Building Society valuation which should turn up any serious structural issues but you won't get to hear about the more minor points. Consider the age of the house. It's your biggest investment to date and a structural survey on an older property might save you a load of grief in the long run.
Good Luck and I'll expect an invite to the housewarming party.  |