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Mortgage Fees

Updated: May 3


APPLICATION/ARRANGEMENT FEES

Most mortgage lenders will charge you an application or arrangement fee.


SOLICITORS FEES

As well as paying a solicitor or licensed conveyancer for the work they do, you’ll have to pay the cost of land registry charges and local search fees. If your lender has their own solicitor acting for them, you may have to pay their fees as well.


STAMP DUTY

This is a tax paid by you when you buy a property. The amount you pay will depend on the value of the property you’re buying. First-time buyers can claim a discount when they buy their first property:

Band

Residential Rates FTB

Up to £300,000

​0%

​From £300,001 to £500,000

​5%

*Please note this information is correct at the time of printing.


If the property is priced over £500,000, no additional first time buyer relief is available and the existing homeowners rates (below) will be applied:



Band

Residential Rates

for existing homeowners

Rates for 2nd Properties

​Up to £125,000

0%

3%

From £125,001 to £250,000

2%

5%

From £250,001 to £925,000

​5%

8%

​From £925,001 to £1.5 million

​10%

13%

Above £1.5 million

12%

15%

*Please note this information is correct at the time of printing.


VALUATION AND SURVEY FEES

You may need to pay for a valuation or survey. The amount you pay will depend on the type of valuation or survey you choose. See page 17 for more information on types of survey.


MORTGAGE ADVICE FEES

Some advisers may charge a fee for the advice they give you. Your adviser will give you a combined Initial Disclosure Document (IDD) which will explain any fees they may charge. In some instances an adviser fee may be charged even if your mortgage doesn’t go ahead.

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