fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Hi looking to buy a house thru the firstbuy scheme but it keeps saying i will need enough to cover the costs of buying a house but dont give typical costs anywhere? can anyone help. i dont mean a deposit just the solicator fees etc etc thanks
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
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£1000
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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harrisp
Member
Registered: 15th Dec 07
Location: Derbyshire
User status: Offline
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House day?
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Should be in house day.
Depends on the value of the house, with the homebuy scheme that we did, IIRC, the solicitor fees alone were 1,500 then surveys took it to nearly 2k  Was on a 190k house price.
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jacko198
Member
Registered: 1st Mar 07
Location: Buckinghamshire
User status: Offline
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Read into it carefully though.
I had a quick look at it and its definitely not for me.
Isnt it something like they pay your deposit for you, so you can get a mortgage for the rest of it?
The main problem was that, ok they will pay £20,000, but you have to pay it back within 5 years, at the same time as paying £500 odd a month on your mortgage. I dunno about you but £350 ontop of £500+ a month is alot of money!
If it is like that, it really doesnt make sense. Why not just save that £20,000 in 5 years (if that is even possible! )
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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nah they pay 20% you pay 5% but its interest free for 5 years and u dont have to pay it back for 25 years inless u sell then you have to pay it back in 2 go,
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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oh and sorry been on here since 2004 and never seen house day opps.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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also dont have to stamp duty. been looking around since i posted and some places say the fees are around £1k so must be that far out for a £120k house
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Cavey
Member
Registered: 11th Nov 02
Location: Derby
User status: Offline
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Post it in house day and there should be a few related links that should have some info as well 
We went with homebuy direct, so we've mortgaged 70% the other 30 comes from the government and miller, we dont pay anything on their bit for 5 years, then its at base rate + 0.5% I think.
Fees are a lot more as there's more work for the solicitor to do dealing with other people instead of buying from 1 person etc...
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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depends on solicitors but nromally about £600 to 1k depending on who they are
Then you have stamp duty if your home qualifies
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
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No stamp for first time buyers.
April '06' Corsasport Feature Car | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by Daniel_Corsa
No stamp for first time buyers.
until 25th March
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Is that true about the 25th march?
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Just read about this now. What if i put an offer in and everythings goin thru do i still have to pay stamp duty?
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whitter45
Member
Registered: 15th Nov 02
Location: Norton
User status: Offline
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quote:
Originally posted by fred7
Just read about this now. What if i put an offer in and everythings goin thru do i still have to pay stamp duty?
yes you need to complete before 25th March (not just make an offer)
However if the house is under 125k then stamp duty wont apply anyway
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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it cost me £490 in solicitor fee's to buy only, £180 for a survey (all other fee's added to mortgage), no stamp duty due to limits being changed at the time i purchased.
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jacko198
Member
Registered: 1st Mar 07
Location: Buckinghamshire
User status: Offline
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Is stamp duty a %?
If so how much?
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Daniel_Corsa
Premium Member
Registered: 21st Apr 04
Location: Wigton, Cumbria
User status: Offline
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quote:
Originally posted by jacko198
Is stamp duty a %?
If so how much?
1% upto £250,000
April '06' Corsasport Feature Car | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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