• Mortgage costs – many products have various booking or arrangement fees. Often, these can be added to the mortgage to save upfront costs but you will be paying interest on these over the term of your mortgage if you do decide not to pay these upfront. You may also have to pay for a valuation (or survey, if you choose to instruct one). Please remember that these fees are very often non-refundable (this will be confirmed in your Key Features Illustration) so you may lose these even if the application does not complete.

• Solicitor costs – it may be beneficial to obtain several quotes before instructing a solicitor as costs can vary. Solicitors will normally require part of their fee to be paid upfront with the remainder paid close to the time of completion. Check your quote to see if these fees are refundable in any way if the purchase does not complete.

   

Here is a rough budget planner for you to consider, but feel free to devise your own that fits your personal circumstances:

Consider how much money you will be left with once these items have been paid for. Does it leave sufficient to save a little every month as a contingency fund if something goes wrong or needs to be repaired?

It is important to be realistic about these costs in relation to your monthly income. If you’re not sure how much some these items are likely to cost, then it may be an idea to speak to a friend or relative who already has to pay these.