While your focus is probably on saving for the deposit you will need to buy your house, you shouldn’t ignore the other costs you will need to pay, such as arrangement fees, survey fees, and administration fees.

Everybody is focused on saving for a deposit when planning to buy a property, but what about the other costs involved in a house purchases?

Here’s a guide to most of the common ones:

Mortgage arrangement fees:

This can be up to £3,000, but are typically between £1,000 to £2,000. You will usually have the option of this being added to your loan.

Mortgage booking fee:

Some lenders charge you this fee just for applying with them. It is typically between £50-£300 and cannot be refunded.

Valuation fee:

This is the cost of valuing the house you are buying so the lender can work out what they will actually lend you. If they value the property at less than what you have offered the seller then you either have to renegotiate, pull out, or make up the difference from your own resources. A valuation is just that, it will not give you detailed information about the real condition of the house. You might want to consider a more comprehensive survey if you want to find out about the true condition of the property. It will be more expensive, but can save you money in the long run if it picks up any structural problems before you purchase the property. If it is a much older property, then a full structural survey is usually a good idea so you are not faced with serious costs to repair it. Standard valuation costs about £150 and an in depth survey can cost up to £1,000.

Be aware. Even if you have a full survey, the lender may still insist on their own valuation as well.

CHAPS:

Clearing House Automated Payment System. You will be charged about £50 for transferring the funds from the lender to your solicitor.

Mortgage administration fee:

The lender will charge you a one-off payment for administration of your account, this could be around £300.

Broker fee:

Using a broker will improve your chances of getting the most appropriate deal for your circumstances. They will take the time to give you actual advice; unlike a bank or high street lender who do not usually offer an advisory service. A broker can cost anywhere between £250 and £500 depending on the difficulty of the case.

Legal fees:

Your own legal fees can be up to £1,800 and include things such as your own solicitors costs and Land Registry.

Stamp duty:

If you are buying your first home, and it is less than £425,000 you are exempt from paying stamp duty. Otherwise:

Tax Band	Normal Rate	Additional Property
Less than £250,000	0%	3%
£250,000 – £925,000	5%	8%
£925,001 – £1,500,000	10%	13%
Upwards from £1.5m	12%	15%

There are the more hidden costs such as physical cost of moving and the immediate costs of moving in and buying new furniture, carpets, curtains and generally making your house your home.