Poll: 24% of house hunters clueless about costs
By myfinances.co.uk staff
Almost a quarter of house hunters display a "worrying lack of knowledge" about the extra costs associated with buying a property, a new report has claimed.
A survey by Unbiased.co.uk found that 24% of prospective homeowners have no idea of the financial implications of entering the market beyond the deposit and mortgage.
Nearly one in ten (nine per cent) thought the cost of solicitors' fees, surveys and stamp duty would not exceed £1,000, while four per cent admitted that they had not even thought about paying for these extras.
Unbiased.co.uk said that a survey alone can cost from £50 to £1,000, while legal charges can be anywhere from £600 to £1,000.
The company's chief executive Karen Barrett said: "Buying a home is a huge financial commitment and it is crucial for consumers to factor in all the additional costs involved in order to then calculate which price bracket they can afford."
Figures from Nationwide show the average house price stood at £164,519 in March.
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