Buying house in London

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Babby

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Hi

I have a separate thread regarding selling an apartment in Dublin and I am hoping to buy a house in London next year.

Does anyone know if the process of buying in the U.K. is any different to that in Ireland, and if there are any extra costs I need to be aware of?

Thanks for any advice
 
The following looks like a good starting point (doesn't appear to be behind a paywall, but if it is any of the large highstreet banks will have guides to buying a house that go through step by step)

www.which.co.uk

The cost of buying a house - Which?

Learn about the true cost of buying a home, from deposits and mortgage fees to survey costs and the price of using a removals company.
www.which.co.uk www.which.co.uk

I'm assuming you'll be getting a mortgage in the UK? Just watch out, the mortgage market is a lot different over there, and varied between lenders. You usually have to pay an arrangement fee to the bank (at least if you want the best rates). The pricing can also be complex; the advertising rules are different so the headline rates can be a lot better than what you can actually get, depending on your circumstances.
The banks tend to have 'teaser' rates, and after the initial discount period the rate shoots up. Most people plan to switch once the discount period is up, but you can end up getting stuck on the high rate if your circumstances change.

There can be early repayment charges which can be quite punitive in some cases.

But overall the market is far more competitive than here - it's still possible to get a tracker mortgage there!
 
Thanks. Yes, planning to get a U.K. mortgage. We have a broker but as you say it’s very complicated. That’s very helpful as I did not know tracker rates were available here.
 
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