As per title, calculated forthcoming moving costs to be around £5500 (sale fees/home buyer's report/conveyancing to sell and buy plus stamp duty). Is my only option to pay as/when required upfront or is there any other way to spread/defer the costs?
I'm not aware of anything specific, and those costs are all obviously due on the conveyances. Perhaps a regular loan, if you'd get one in the circumstances?
I think a lot of folk wil borrow more on the mortgage to cover this an other stuff if they can.
stick it on the mortgage, or use equity from current house
Big Tony. Eight points on the vig
Depends on your situation, as first time buyers it made little difference to me as either we paid them out of the "deposit" and had a bigger mortgage, or had them added directly to the mortgage amount which amounted to the same thing as paying them from savings just meant we needed that much more mortgage anyway.
If your moving home and the "deposit" is tied up as equity in your current house then I've no idea, will the suppliers (solicitors, EA's etc) give something like 30 days credit so you can make sure that after the sale the mortgage amount and equity released from your current house are enough to buy the next house and have some left over?
You are going to pay one way or another.
Do you want to pay now, or later with interest added?