There is a number of financial outlays to be made when buying a property. Some are up-front, ie you need to pay them out of your pocket, some are addded to the loan, and some are refunded. Largely, they will fall into two categories - bank and solicitor. The following is a general guide of what to expect, but this will vairy from bank to bank, and from package to package within the same bank, as from solicitor to solicitor.

Usually, the first fee you will pay is for the survey. This is paid up front to the bank, but in many packages the bank will refund it to you after the purchase is completed, most often in the case of first time buyers. Alternatively, they may add it to the mortgage, so that it is repaid with the loan. It tends to vairy from about £200 to £600 from bank to bank.

The bank may also charge an arrangement fee, which if charged is never refunded. However, you may not have to pay it up front, as banks are often happy to add it to the mortgage.

The bank will also charge an indenminity fee, for mortgages with loan to value ratios of greater than 80%. This is for an insursance policy that the bank take out in case you default, because there may not be enough value in the house to cover the debt as well as the fees they will incur whilst repoessessing it. Normally, this charge is added to the loan, so the borrower would not have to find the cash before purchase. There is no indeminity fee for borrowings below 80%.

The solicitor will charge from about £400 to £800 conveyancing. They will also require money for outlays they make on the purchasers behalf, which may include, but not limited to the following: local search - £40-£80, bankruptcy search - £2, Land Registry search fee - £4, bank transfer fee - £30-£40, Land Registry admin fee - £150. Other charges may be incdurred if there are any problems that arise.

Thereafter, you will need your deposit which is 5% of purchase price on a 95% loan to value mortgage, 10% on a 90% loan to value mortgage etc. You may also need to consider the first repayment, which is normally levied in the second month, but includes the first months repayment. Consider this example - if your agreement is to pay on the 1st of the month, and your money is transferred to the solicitor on 15th of the month (the day you start owing interest etc), your repayment on the 1st of the following month will be for half of the first month and all of the second month. The same goes for management fees, for those purchasing flats.