What costs are there when buying a property?

  • Stamp Duty: (a kind of tax) which is a percentage of the purchase price over £145,000. A handy calculator can be found at http://scottishstampduty.com/

  • Solicitor’s fees: which are also based on the purchase price, a quotation can be provided on request; a typical first time buyer will pay between £750.00 and £1,000.

  • Valuation fee: In Scotland all properties on the open market will have a single survey as part of the Home Report. Most lenders will accept this report rather than having to instruct your own. When remortgaging many lenders will pay the valuation fee for you.

  • Lenders arrangement fees: which can usually be added to the mortgage if required and average about £995.00

  • Mortgage broker fee: Can be anywhere from zero to 1 or 2% of the loan amount (Dewar & Partners normal fee is £295.00 which is reduced for repeat customers).

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