One of the more frequent questions we find that aspiring homebuyers ask us on a regular basis, is “how much will this all cost?”
To answer this, we have put together a list of the fees that homebuyers can expect to pay when you are considering taking out a mortgage as a first time buyer in Sunderland or are moving home (and when they become payable).
This type of fee is only applicable if you have a home to sell, which means you only need to know about this one if you’re moving home in Sunderland.
With the rise of the online estate agent, if you have a basic Rightmove listing, you could be selling your home for as low as £500.
On the other hand, if you are looking for a more personalised local service and a dedicated sales negotiator, your fee will be somewhere within the realm of 1-2%.
Your mortgage lender will require that you have a valuation carried out on the property you’re looking to buy. This will be to make sure that they are lending against adequate security.
Prices can vary from nil (for a basic valuation with some lenders) up to a few hundred pounds for a home buyers report that is much more detailed.
A full building survey can cost even more than that, so if you’re a First Time Buyer in Sunderland, it’s best to be prepared ahead of times so that you can avoid any issues in the future.
The key is being able to choose whether you want a more detailed report or not. Your decision will likely be dependant on the age or type of property in question, along with any concerns you have about the property.
Some mortgage products will offer comparatively cheap rates, though this benefit can sometimes be greatly outweighed by the arrangement fees you could be paying on them.
Not every product will have one of these fees, so the cost can sometimes be none, though it can also be a lot, for example around £999 or even more depending upon the lender and type of product.
Oftentimes these are to be paid upfront or you can choose to add these onto the balance of your mortgage, though doing so would potentially incur additional interest charges.
As a trusted and experienced mortgage expert, we are able to compare mortgage deals with all fees added, so you can accurately compare which would be best for you.
You will need to hire the services of a solicitor, with the fees of these being vastly different in quotes, depending on who you enquire with. An estimation for a straightforward purchase with a local company is £600 for a low-value property.
You will need to inform them of the property address, whether it’s leasehold or freehold property. You will also need to give the purchase price in order for you to obtain any quotations.
The key points to cover when asking for a quote are:
Depending on the price of the property you are purchasing, you will have to pay a tax of which the solicitor collects on completion of the property purchase, in addition to your Solicitor’s fees and disbursements.
More information about the technicalities of Stamp Duty Tax can be found here.
Your fast & friendly mortgage broker in Sunderland will usually charge a fee for their mortgage service. Please try to avoid any application fees where your money will be at risk.
The cost of moving your furniture can be varied, depending on who you use and the level of service you are looking to obtain.
Professional services may cost a lot more than a local van for hire service, as you are generally paying for a reputable, respected service, though you may get just as good of a customer experience from those local services.
On the other hand, if you’re looking to hire just a van and do the work yourself, this can cost less than £200, as opposed to those professional services, which can sometimes be upwards of £1,000.
We offer a variety of services, from mortgage advice, to finding you the best deal, matching you up with suitable insurance products to protect you and your family, and more.
To get started on your mortgage process or to further discuss the costs that may be involved in your process, book a free mortgage appointment and we’ll see how we are able to help you.
If you have ever thought about moving home in Sunderland and surrounding areas, you have likely found yourself wondering which areas are the best places to live in Sunderland. To help you make an informed decision, we have put together a list of the best areas to live in and around the Sunderland area.
Seaburn is a seaside resort that is one of the most popular areas to live in Sunderland and can be seen as a more affluent area. The landscape offers a beautiful beach with a perfect seaside destination promenade with its many amusement arcades, playgrounds and fish and chip shops. The area goes beyond its coastal facilities and can fulfil many amenities for residents.
If you are looking for a property with a sea view, Seaburn is the perfect place for you! Situated a short distance from Sunderland city centre, this area is brilliant if you are looking for a home away from the city atmosphere. Along with its sandy beaches for your daily exercise, Seaburn has many eateries and shops, as well as a supermarket.
If you are moving to Seaburn and are looking to commute into the city centre, there is a Metro station in the area that has convenient links to the centre. If you are looking at moving here to start a family, Seaburn has many schools in the area and in the surrounding areas. In terms of property prices, the prices can vary from high end to reasonable. however, the price is what you pay for the seaview. If you need the help of a mortgage broker and looking to move to the sandy village of Seaburn, book your free mortgage appointment to speak with a member of our team today.
The larger ward that covers Seaburn is Fulwell. This area is a short distance from Seaburn and Roker beach but also has a vast amount of leafy spaces to walk and explore. There is brilliant community spirit in the area with plenty of things for residents to do including sequence dancing, parents and toddlers, karate and many more! The windmill that stands in the area speaks volumes of the history of Fulwell with it originally being a small farming village.
Sea Road is the perfect area for your daily errands with independent shops, hairdressers, and convenience stores. Furthermore, Fullwell has many restaurants, cafes and bars making it a perfect area to eat out. Of course, there are beaches that are close by and can be brilliant to explore but for a shopping day, Sunderland city centre is the perfect place and is only a short distance away. If you are looking to venture further, Durham and Newcastle are approximately an hour and a half by car but can be reached by Metro. This provides not only many leisure options but plenty of employment opportunities!
The properties within Fulwell are mixed with many flats, town houses, semi detached houses as well as Victorian, Edwardian and pre-war terraces. Whether you are looking at buying your first home or are looking at moving to a larger property in the area, there is plenty on offer within Fulwell. If you have found your dream property in the area and are looking for assistance on the mortgage journey, book online or get in touch for your free mortgage appointment with one of our advisors today!
The residential area of Ashbrooke is situated a close distance to the city centre providing plenty of facilities, amenities and opportunities to those who live there. The leafy suburb provides a thriving atmosphere of the city life without the noise and is a popular area for those looking to commute.
There is a plethora of walking areas within Ashbrooke including Backhouse Park which is ideal for dog walkers as well as Mowbray Park another brilliant park area and neighbouring museum. The community spirit within Ashbooke is brilliant with lots of activities for residents to socialise and join. There is a range of shops in and around the area including independent and some big name brands.
The transport links within Ashbrooke allow residents to travel to Sunderland city centre as well as further out towards Newcastle which provides plenty of employment opportunities with these links being perfect for a commuter. When it comes to the property within Ashbrooke, residents are spoilt for choice with the variety of properties for couples and families at affordable prices. Whether you are buying your first home in Ashbrooke or looking at moving home to one of the fantastic properties located in that, get in touch with a mortgage broker in Ashbrooke for the help and support you need on your mortgage journey.
Herrington is situated in the south of Sunderland and is split into East, Middle, West and New. Here, we will be talking about the popular area to live which is Middle Herrington which is the perfect place for young and growing families. The area has a rich history of being a vacant farmland and is known for Herrington Hall which was owned by the Robinson family.
The main attraction within the area is Herrington Country Park with its lush fields and walking trails that are brilliant for dog walkers and runners. Other activities within the area include Penshaw Monument which was built in memory of John Durham who was the first Earl of Durham as well as many other historical architectures to explore. There are many convenience stores in the area for all your amenities and you are within a short distance to Sunderland city centre. Being within this close distance opens up a lot of employment opportunities and makes the area an attractive place to young professionals.
There is a mixture of homes within Middle Herrington that attract a variety of buyers whether you are finding your first home or a family home. Types of properties in the area vary from 1930s properties with entrance porches and ample driveways to modern developments with semi-detached houses that are suitable for first time buyers in Sunderland. If you are in need of a mortgage broker in Herrington, book a free mortgage appointment today to speak with a mortgage advisor.
This long street is a major road that runs through Sunderland that links Ryhope Road in the east of the city all the way to Durham Road in the west. Despite this being a main route for many people in the surrounding area, the street has a large community with a plethora of houses lining all the way up the road.
One end of this road is Grangetown where there are many shops and businesses including a beauty salon, eateries, convenience stores as well as a gym. Along with this, the area is situated near Hendon beach which is a picturesque coastline and attracts many walkers who take in the view from the promenade. If you want more adventure, you can take a hike across Hendon Beach Cliffs which provides magnificent views from a height. The other end is the A690 and is the route towards the A19 and the A1(M) and is more bustling with it being a short distance from Sunderland city centre. This area has a variety of independent and is close to more big name businesses.
As mentioned, Queen Alexander Road is lined with properties varying from bungalows to a variety of seld detached properties that are even set back from the road and may be a little higher than Sunderland’s average property prices. If you are interested in moving into this area and are looking for support and guidance on achieving your mortgage goals, get in touch for open and honest mortgage advice in Sunderland.
Chester Road provides the hustle and bustle of the city life with the road running through the centre. Furthermore, the area is situated conveniently near the A1231 which is the route towards Gateshead and beyond. Located right in the city centre, Chester road has plenty of leisure activities and employment opportunities.
As mentioned, there are plenty of amenities and facilities in the area making it very convenient for many residents. Additionally, the short distance to the centre is perfect for a shopping spree, going out for dinner, going to the cinema and even for a peaceful walk in Sunderland’s Winter Gardens. The city centre also has a train station which allows you to travel to Newcastle, York and even London as well as plenty of bus routes around the suburbs.
With fantastic transport links, Chester Road is brilliant for those looking to commute into the city and beyond and has great access to the University of Sunderland City Campus which is convenient if you are looking at pursuing any further education. As well as this, there is a brilliant selection of properties including large houses, starter homes as well as flats – perfect for young couples or new families. If you are new to the world of homeowning and are looking for open and honest mortgage advice in Sunderland, get in touch with our team to book your free mortgage appointment today!
Situated within the City of Sunderland is the large town of Washington which has a friendly close-knit community between the smaller villages in the town and a plethora of property choices. The area is famous for being the ancestral home of the first president George Washington which you can visit.
In the town centre is The Galleries which is a shopping centre that has a variety of mainstream and independent shops along with a range of cafes and restaurants. Along with this, residents are spoilt with the many pubs in Washington Village that is rich in history and is perfect for Sunday lunches! For a daily walk, The Princess Anne Park is brilliant for this and is a hotspot for dog walkers and cyclists as well as James Steel Park which is runs alongside River Wear.
With transport, Washington is a place between major local cities like Durham, Newcastle and Sunderland making commuting easy along with excellent transport and road links. If you are looking to move to this town to start a family, Washington has schools within each of its villages providing both primary and secondary education as well as further education.
Washington is ideal for any buyer at any stage in their home buying journey with many modern properties ranging from 2 to 4 bedroom houses. You may find in the north of the town there is many Grade II-listed Georgian buildings with some being houses and a few converting into flats. Looking for assistance on the mortgage aspect on your home owning journey or looking to remortgage? Book your free mortgage appointment to speak with an expert mortgage broker in Washington today.
We hope that our list has proved to be a little helpful in your decision making. Of course, you should still do your own research and visit the areas yourself, but we at least summarised the highlights of some of the best areas in and around Sunderland, to really give you a feel for what they may be like.
If you are looking at moving home in Sunderland and would like some help with getting the process started, please do get in touch. A trusted and dedicated mortgage broker in Sunderland like ourselves will work hard to try and guide you through the whole process.
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