If you have an existing mortgage, dig out the terms and conditions and find out if the deal is transferable without exit fees.
Some charge exit fees (typically £150 to £300). If you are taking out a new mortgage, you’ll need to factor in arrangement fees (which could be up to £1,000).
Your mortgage lender will charge you a valuation fee (£175+). But remember, this is not a detailed survey, it simply checks the property is valued correctly.
A homebuyer’s report carried out by a surveyor will throw up any serious defects; and a full structural survey provides a detailed report on the property’s construction. Either could save you thousands in the long run, especially in older properties and may provide leverage for negotiation on price. Surveyors’ fees vary but as a guide a homebuyer’s report starts at around £300 and full structural surveys at £500 (depending on size of the property and state of repair).
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