Mortgage Fees Advice

When you purchase a property, or re-mortgage, you will normally incur various fees which you need to take into account. These are broken down as follows:

Stamp duty (on completion)

Solicitors Fees

Valuation Fee (up front)

Lenders arrangement fee (usually added to the mortgage)

Solicitors fee (this might be free via some high-street lenders)

Valuation fee (this might be free via some high-street lenders)

Lenders arrangement fee

Stamp duty

Estate Agent Fees

Solicitors fees (for selling & buying)

Valuation Fee

Lenders arrangement fee

Hume Associates offer a no-obligation initial consultation. For mortgages you choose how we are paid:
Pay a fee up to £150 + we keep the commission from the lender, or
Pay a fee of £750 + you keep the commission from the lender.
Ask for further details.

Purchase Price	Fee
£125,000 - £250,000	1% of purchase price *
£250,001 - £499,999	3% of purchase price
£500,000 +	4% of purchase price

*First time buyers in disadvantaged areas have a zero rate to £150,000 or £250,000 where completion is before 25 March 2012

Solicitors Fees	Fee
Re-mortgages	£400 (approx)
Purchases (including searches)	£1000 (approx)

Estate Agent Fees	Fee
Sales	Based on the sale price. Typically this is around 1.5% - 3%. Shop around and don't be afraid to negotiate.

Paid up front, usually tiered based on purchase price (usually £250-£400). Each lender charges a different fee structure.

Paid on completion (usually added to mortgage). Can range between 0% to 4%. Generally, the higher the fee charged, the lower the interest rate will be.

Your property may be repossessed if you do not keep up repayments on your mortgage.