If you apply to the Society for a ‘Fees Assisted Legals’ mortgage, the Society will pay for the basic legal costs in relation to the mortgage. There will be additional costs that you need to pay together with the cost of any non-standard work that the Society’s solicitors or licensed conveyancers carry out beyond our ordinary checks. Further information is available upon request – click here.
|Loan to Value (LTV)||A variable rate with 2.70% discount off our standard variable rate (SVR) for 3 years||Then changing to our SVR for rest of mortgage term, currently||The overall cost for comparison is|
Based on a £162,440 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 15 year term: 36 monthly payments at a variable rate of 2.29%, (£1067.15) £38,417.40. 144 monthly payments at standard variable rate (currently 4.99%), (£1241.02) £178,706.88. Basic Valuation fee on property of £400,000, payable when you apply £360 (see scale). Application fee payable when you apply £199. Completion fee payable at time of legal completion £199. Telegraphic Transfer fee payable when you apply £25. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £218,057.28
It’s a good idea to know approximately how much you’ll have to spend before you start house hunting. The Melton’s mortgage advisors will help work out an affordability budget with you to give you an indication of how much you may be able to borrow.
Opening a savings account can be a good way to save up for your deposit. Take a look at our range of savings accounts.
Make friends with the agents. Calling and visiting your estate agents regularly will help ensure you’re the first to know when a hot new property hits the market.
Put aside a whole day, and do a number of viewings (six is the suggested maximum). Go on a weekday if you can – estate agents will give you more time than at the weekend.
Take your own pictures. These are much more useful than glossy agents’ shots. Film your visits on your phone, too. That way, you have something to refer back to.
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We offer competitive buildings and contents insurance in partnership with Uinsure. Find out more.