![]() This is to check the property is worth the agreed sale price and doesn’t have any issues that will affect its value. Your lender will also need to carry out a valuation of the home you’re buying. You can use our Halifax conveyancing service to compare quotes for your legal costs from our panel of up to 200 conveyancers. Just like the first time you bought a house, you’ll need help from a conveyancer to sort out the legal bits. You'll find all this information in our comprehensive guide to Stamp Duty.Ĭonveyancing, surveyor and valuation costs The rules and rate of tax differ for first time buyers and if you live in Scotland or Wales. ![]() You can either pay these upfront or add them onto your mortgage.Īfter your mortgage fees and deposit, Stamp Duty is likely to be your highest cost when moving home.įrom 23rd September 2022, if you're moving house in England and Northern Ireland, you will not have to pay Stamp Duty on the first £250,000 of a property's purchase price. You’ll also need to pay any fees to set up your mortgage. If you’re buying a much more expensive house, you might need to save extra to cover the difference. If you’re moving house, you’ll be able to use the equity from your first home to go towards your next deposit. A deposit of 15% or more of the property value might give you a better chance of being accepted. This ranges from a minimum of 5%, but a low deposit can make it harder to get a mortgage. You will usually need to provide a deposit to get a mortgage for a property.
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