Homemovers shell out £5,000 more than expected

Mortgage Introducer

July 29, 2015

Unforseen costs can come in the form of mortgage fees, surveys, stamp duty, removal hire and home improvements.

People buying said they had to pay out over £6,000, while renters had to pay £3,000 per person.

To foot the extra cost two thirds (63%) were forced to dig deep into their savings, while one in 10 (11%) had to rely on their parents.

Dan Plant, consumer expert at MoneySuperMarket, said: “It’s important to consider all costs involved so you aren’t hit with an unexpected bill at any point – from the mortgage, surveys and stamp duty, to removal hire and any other necessary additions to the new house.

“Simple steps such as creating a checklist and timeline will also alleviate the extra pressure on your relationships, job and health.”

“It should be a really exciting time, but unfortunately the most common words people associate with moving are ‘tiring’, ‘draining’ and ‘frustrating.’”

Careers and relationships both suffer as a result of moving, as one fifth (20%) of recent movers were unable to concentrate on their job and a similar proportion (19%) had to take annual leave to get things sorted.

Relationship-wise one in five couples (20%) had an argument due to moving while one in 10 (9%) said it had a negative impact on their relationship as a whole – they commonly accused their partners of being impatient or difficult to deal with due to the stress involved.

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