Click on the section headers below to expand.

• Mortgage Considerations

  

  On each page you will find a link to our instant loan repayment calculator. Just key in the amount you want to borrow, the loan period (years) and the rate of interest and our calculator will instantly tell you what your monthly mortgage repayment will be! In addition to the monthly repayments, which cover interest and a small element of the capital borrowed, you may also have to budget for Mortgage Protection Assurance (Life Assurance) and of course Building and Contents Insurance for your new home.

  In addition your lender will probably charge an upfront fee for a Survey / Valuation of the Property and if your application is successful there is normally an arrangement fee.

  Please check with your lender to quantify what these fees are likely to be as they do vary in relation to the size and value of the property and the amount of the mortgage.

• Legal Considerations

  

  The actual legal costs involved in buying your new home will be agreed in your individual negotiations when you engage a Solicitor to act for you.

  Again costs do vary and will be dependant upon the value of your property.

  In addition to your own Solicitors costs you will have to pay all Land Registry Fees. There is an online calculator to help you calculate these fees at www.landreg.gov.uk/online/feecalc In addition you will have to reimburse your Solicitor for all Search Fees and other expenses in connection with the purchase of your property.

• Other Financial Considerations

  

  In addition to Mortgage costs, Legal Costs there are a few other costs you will need to budget for. These include:

  Plot Reservation fee: your Halbren selling agent will advise you of the appropriate amount. Remember that this fee is taken off the balance of the purchase monies due at the time of Completion.

  You normally need a 10% deposit when you exchange contracts. If this is not being provided by your Mortgage lender you will need to make sure your Solicitor has cleared funds in good time to enable exchange of contracts

  Stamp Duty: The prevailing rates of Stamp Duty in England & Wales are as follows:

  • 1% on purchases over £120,000
  • 3% on purchases over £250,000
  • 4% on purchases over £500,000

  The above list of other financial considerations is not intended to be an exhaustive list but should enable you to take most of the important costs into consideration.