Step 3: Property Financials
There's no point viewing that property that you love unless you can afford it.
This Step by step Property Finance process is all about
"doing your sums".
How much money can you borrow and how much will the monthly payments be?
How much Stamp Duty will you need to pay?
How much will solicitors fees be?
How much will a survey cost?
How much will it cost to do any work that is required on the property?
All these questions can be answered by using our handy links below:
1. Use the MoneySaving Expert Mortgage Calculator to give you an idea of how much you can borrow and how much it will cost to repay the mortgage. The Money Saving Expert calculator has a whole host of features to assist you with your mortgage.
2. ReallyMoving.com has a tool that allows you to enter details of your property purchase and it will generate Solicitor Conveyancing Quotes which are sent to your nominated email address.
3. Use the MoneySaving Expert Stamp Duty Calculator to calculate the amount of Stamp Duty payable on the property value of your choice. Always important to ensure that you factor your stamp duty payment into your costs.
4. The RICS website offers an online calculator to check the rebuilding cost of your home, for insurance purposes. Also, you can search the RICS database to enable you to Find a Surveyor. A great set of tools and guides from the industry professionals website.
5. In order to get an idea of the cost associated with work that needs doing on the property you can use the Trust A Trader website to compare quotes.
Just enter the trade you're looking for and your postcode or town/city into the search tool. Then choose your trader. Simple.
Just enter the trade you're looking for and your postcode or town/city into the search tool. Then choose your trader. Simple.
6. If you are buying a leasehold property which has a less than 99-year lease on it, try and get an idea of how much it would cost to extend the lease in order to factor that into your offer price. Check out Money Saving Expert again for this guide.
7. Don't just buy the home insurance from your Mortgage Provider. Use the Money Saving Expert guide to get the best deal out there.
8. The kind folk at Money Saving Expert are committed to ensuring that you pay the least possible for your Energy Bills. Try out the "Cheap Energy Club" to enable you to budget wisely for your Utility Bills in your new Property.
9. A good tool from Nationwide that lets you get a feel for the overall cost of moving and also allows you to easily print the results. Give this one a go for a high-level view of the cost of your Property move.
