Keystone IMC Mortgage Section The cost of moving home & obtaining a mortgage

Mortgage and home buying related costs

Purchasing a property is an expensive time and when combined with obtaining a mortgage and possibly selling a property, costs start to escalate. That's why we have designed this very popular form to help you work out what these costs will be.

The form is very easy to use. Simply enter the numbers and the totals will be worked out for you. You can also refer to the mini glossary on the right which includes some of the terms on this page that you may not fully understand or better still call Keystone Independent Mortgage Consultants on 01394 389449 and speak to a real person.

Try to complete the form as accurately as possible with confirmed figures, for example if you are not sure what your estate agency fee is then call them and ask.

Purchase price, sale price & existing savings


Selling Costs

Payable on completion


Purchasing Costs

Payable up front


Costs on Exchange & Completion



Total Fees Payable Up Front (A): £
Total Costs Payable On Completion (B): £
Total Fees To Be Added To Mortgage (C): £
Total Costs: (A+B+C) £
Money left over for deposit £
Mortgage needed before fees are added £
Mortgage needed after fees are added £
Loan to value (LTV) %

Loan to values are VERY important!

Keeping your LTV as low as possible is very important when applying for a mortgage. Lenders typically offer lower rates depending on what the LTV is. This is a tiered system where the highest rates are for mortgages above 85% LTV. The rate offered gets better as the LTV falls. For example, 80% will get you a good rate, 75% LTV will get you a better rate and if you can get as low as 60% LTV you are going to get an even better rate compared to higher LTV's.
What we are really saying here is that it's worth seeing what products would be available if you borrowed a little less. It could save you money.

For mortgage advice we can charge a fee of typically £295 or we can receive commission from the lender

Mini glossary

The process of transferring legal ownership of property - from the seller to the buyer. (including the land, if a freehold property)
In the context of property purchase, the contract is the legally binding agreement between the buyer and the seller.
Exchange (of contracts)
By the time contracts are exchanged, the process of buying a house is almost complete. It is the transaction whereby signed contracts for both buying your new home and selling your old home are transferred between solicitors either physically or by telephone. The exchange of contracts is legally binding. After exchanging contracts, the buyer cannot pull out without incurring considerable expense. The seller can enforce the contract against the buyer, that is to say, compel the buyer to buy the property. However, this is rare. Normally, the buyer will be forced to pay all the seller's costs in reselling the property and will forfeit the full 10% deposit. This is the time for the buyer to insure both the house and his or her life.
The end of the process of buying a house. Completion occurs when money transfers from the buyer (via a lender in most cases) to the seller. It is usually followed immediately by the buyers moving into their new home.
Higher Lending Fee
A single premium insurance policy to cover the additional risk to the lender, where a loan equal to a high percentage of the value of the property is taken out. Although this policy covers the lender not the borrower, the premium is paid by the borrower. The premium often goes by different names depending on which company the mortgage is arranged through. Mortgage Indemnity Guarantee (MIG) and Higher Lending Charge (HLC) are two examples of how this term differs from lender to lender. Most lenders only charge a higher lending fee where the loan to value (LTV) exceeds 90%.
Stamp Duty
This is the tax paid by the buyer of a property to the government, currently based on the following rates:

1% of the purchase price on any property bought for more than £125,000,
3% of the purchase price on any property bought for more than £250,000,
4% of the purchase price on any property bought for more than £500,000,
5% of the purchase price on any property bought between £1,000,000 & £2,000,000,
7% of the purchase price on any property bought for more than £2,000,000

Loan to value (LTV)
This is the percentage that your mortgage amount equates to against the purchase price. For instance if you are applying for a mortgage of £50,000 and the purchase price is £100,000 then the LTV is 50% This is quite important as the lower the LTV the better the deal you will get from the lender. For example, someone that requires a mortgage at 75% LTV will get a much better deal than someone that requires a 90% LTV mortgage.

Keystone IMC Ltd, 2 Deben Mill Business Centre, Old Maltings approach, Woodbridge, Suffolk, IP12 1BL T: 01394 389 449 F: 01394 384 437 E:

Keystone IMC Ltd is authorised and regulated by the Financial Conduct Authority. Keystone IMC Ltd is entered on the FSA register ( under reference 583097.