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Buying a house HELP!

KINGMUZZZAUK Avatar
6y, 10m agoPosted 6 years, 10 months ago
I am considering buying a house around £30,000 but have never bought one before.
Can anybody tell me what fees i would have to pay?
Is it Solicitors fees, Survey fees, estate agent fees or are there lots more?
If anyone has bought a house recently what were the fees breakdown you were charged by each company (solicitor/survey etc.)

Many Thanks for any help!
KINGMUZZZAUK Avatar
6y, 10m agoPosted 6 years, 10 months ago
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#1
Probably around £1500-2000, but a 30k house? I'd be more interested in how much it would cost to rebuild.....
#2
Shengis
Probably around £1500-2000, but a 30k house? I'd be more interested in how much it would cost to rebuild.....


Same here...
#3
30,000 house? that wouldn't buy you a front room where i live :w00t:

£700 ish for solicitor fees, you don't pay estate agent fees for buying and surveys well it depends which level of one you go for £400ish for basic up £900
#4
If you have the time (and the commitment), it is possible to do some of the tasks yourself - such as conveyancing.
#5
I recently bought a house, but it was for £164,000 so my fees are likely to be higher, but roughly as follows:

£495 Survey & Valuation
£1,000 Solicitors Fee
£1,000 mortgage arrangement fee (but this was only because I opted for a lower rate of interest, could have had fee free but would have cost more overall)
£100 Van hire to move
If your only buying and not selling then the vendors pay the estate agent fees, and as the house you are buying is only £30,000 there is no stamp duty to pay.

However, £30,000 seems very cheap to me, and mortgages are for a minimum of £25,001, so the maximum deposit you could put in would be £4,999 meaning you would have a Loan-To-Value of approx 85% - nt many lenders will go this high - so are you actually taking a mortgage or is it a straight cash purchase? If it is, you solicitors fees will be lower, as there is no mortgage company to deal with and satisfy in terms of searches ect, which are a large chunk of the fees, and also there will be nothing to pay to a mortgage company for a survey etc, nor arrangement fee, you could empoly a local surveryor (if you wanted a survey) probably a lot cheaper too
#6
Remember all the bills after you buy too.

Council tax
Mortgage
Gas
Elec
Phone etc
Home insurance
Life Assurance

£30k though - please post a link so we can see :whistling:
#7
bought my 1st home in June 2009, as a buyer lots of fees are now covered by the sellers HIP Pack, mining,water searches etc...

I dont think you'll get a lot with 30k even in the current climate. my home was 100k solicitor fees with other searches not covered by HIP were about £500-600 in total. (some searches like mining only last 6months, but it unlikely someone will go back in time and decide to mine under your home)

my survey fee was £225 but i think this depends on value of home and level of survey.

Estate agents fee are paid by the seller, the more the house sells for the more the estate agents get. DONT trust estate agents they are the only people in the chain of buying a home that are not regulated by an overseeing body like the FSA. within reason they can tell you what they like.

My biggest tip is image you was buying a 100k car you would want to test drive it before purchasing. checking heating works, drive round the area now and again Friday/Saturday night make sure the neighbors are not having raves etc... speak to the neighbors.

if the house is over 80-100yrs old have the top survey going

see what other houses sold for at http://www.houseprices.co.uk/ around that area within the last 6months.

Haggle i think the market has still not picked up, i took 15k off the asking price for my home. i did offer 85k but this was rejected but don't be scared of going to low, you may get a good deal.

Hope this helps, if i think of anything else i'll update my post

PS regarding what cosmicdav3 said, we went with our bank Natwest only reason all the other lenders would only offer low mortgage amounts or 60-85% mortgage. I think because both my GF and me had been with Natwest 10yrs they were happy to lend us a lot more.

HSBC offered 85k 90%
Halifax offered 90k 90%
Natwest 140k 90%

I think because they could see all our ingoing/outing for the last 10yrs no missed DD's etc they were able to lend more.

Also try to speak to a Financial adviser, i choose a mortgage with lower APR but higher fee, we worked out that if i took the higher apr lower fee i would save £300 over the 2yrs!! every penny helps when you have your own home.
#8
it could be a new build and you only own 25% or a council buy

op-shop around for yr solicitors, can save 100-200.
#9
*Sloman*;7469933
bought my 1st home in June 2009, as a buyer lots of fees are now covered by the sellers HIP Pack, mining,water searches etc...

I dont think you'll get a lot with 30k even in the current climate. my home was 100k solicitor fees with other searches not covered by HIP were about £500-600 in total. (some searches like mining only last 6months, but it unlikely someone will go back in time and decide to mine under your home)

my survey fee was £225 but i think this depends on value of home and level of survey.

Estate agents fee are paid by the seller, the more the house sells for the more the estate agents get. DONT trust estate agents they are the only people in the chain of buying a home that are not regulated by an overseeing body like the FSA. within reason they can tell you what they like.

My biggest tip is image you was buying a 100k car you would want to test drive it before purchasing. checking heating works, drive round the area now and again Friday/Saturday night make sure the neighbors are not having raves etc... speak to the neighbors.

if the house is over 80-100yrs old have the top survey going

see what other houses sold for at http://www.houseprices.co.uk/ around that area within the last 6months.

Haggle i think the market has still not picked up, i took 15k off the asking price for my home. i did offer 85k but this was rejected but don't be scared of going to low, you may get a good deal.

Hope this helps, if i think of anything else i'll update my post


HIPS do not cover most of the searches, and dont cover the mining one.
MHO and to most in the estate agent profession the HIPs are a waste of money, just another way for the government to get more money from us.
we brought 2 houses within a few months of each other and we needed all searches again for the 2nd house, even though it is only 20ft over the road
#10
opps posted twice.
#11
Couldn't buy a mobile home around us for that - my kids are looking at a minimum of £120k for a one bed flat as a starter home.
#12
I'd like to know where to buy a £30,000 house too, at that price you NEED to get a full structural survey done and a proper land search for sure.
#13
where is this house? county please.................. i didnt know you could buy a house for under £60k minimum??????????????????????wow......
#14
think thats the whole road of houses sold :)
#16
no offence fellow cuz im a stokie here - thats why i moved to wales :) nothings a bargain for a reason :)
#17
BeautifulBethy
no offence fellow cuz im a stokie here - thats why i moved to wales :)


But do you still eat oat cakes?:whistling:

OP, I live nowhere near Stoke but for some reason i've heard of Burslem. That can't be a good sign:thinking:
#18
needs to be a quick sale,. no good if u need to go for a mortage, which would take a few weeks. MHO its too cheap, the houses around it are probably boarded up and a rough area
#19
Shengis
But do you still eat oat cakes?:whistling:

OP, I live nowhere near Stoke but for some reason i've heard of Burslem. That can't be a good sign:thinking:


We went to Burslem to watch a football match, it's Port Vales ground, that's probably why you have heard of it. Sticks in my mind too because it's a strange name.
#20
deffo - oat cakes rock :) Burslem scares the hell outta my other half :)

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