When you decide to purchase a home, it’s an exciting time. But when you are completing your budgeting process, you should remember to take into account more than just the price of the house. A complete budget that includes all costs is the key to a successful deal. These are some of these costs:

Leasehold – When you buy a property that is leasehold there will often be an extra fee, which stays the same regardless of the cost.

Searches – A solicitor can conduct searches to identify any problems with the property you are considering before purchasing it.

Stamp Duty – You can use a handy online tool to help you calculate what your stamp duty land tax will be according to recent rates.

Mortgage fees – The majority of mortgages come with fees and charges to arrange the loan. Mortgages are available without fees, but the rates tend to be higher. For advice from Mortgage advisors Gloucester, visit a site like https://www.geniusma.com

Legal fees – A solicitor or conveyancer may charge a flat fee or a percentage based on the value of your property.

Land Registry – This government department has details of all properties registered in England & Wales. There is a charge for registering a new owner.

When applying for a loan, the lender may ask you to provide a valuation of your property in order to verify that it is worth its asking price.