When your offer has been accepted you can expect to start paying fees and costs. There are some fees you’ll have to pay and some depend on your choices, like the type of survey on a house.

The mortgage product you opt for could affect some of the costs too.

Before you choose your mortgage, make sure you look at the fees.

Cost name	Do I have to pay it?	What’s it for?	How much can I expect to pay?
Home survey	No, you don’t have to have a survey but it can help you learn about potential problems with the building. Anything that’s highlighted could give you a reason to negotiate on your original offer with the seller.	There are different levels of survey depending on the size of the property and depth of information you want. The most basic survey will give an overview of the property's condition and point out significant problems, but won’t go into detail.	£500 - £1500 House surveys - the different types and costs - Which?
Valuation fee	Sometimes the valuation is free. A valuation is always carried out by the lender.	A valuation by a lender is not a survey and just confirms the value of the property to the lender.	From free. Check with your lender.
Mortgage product fee or mortgage arrangement fee	This is part of the mortgage application, and you will have to pay it. Sometimes you can add it to the loan amount. If the purchase falls through, you should get your money back.	The mortgage product fee is to cover the administration costs of arranging your mortgage. You pay this when you apply for the full mortgage application.	From free to around £2,500. Check with your mortgage product details.
Mortgage booking fee Sometime called an application or reservation fee.	Not all lenders charge these, but if they do, it will have to be paid on submitting your full mortgage application. It’s not refundable even if your house purchase falls through.	If it’s charged it’s sometimes to reserve a certain type of product.	From £100 -£300
Stamp duty	You might have to pay Stamp Duty. It depends on the price of the property you're buying, and whether you are a first time buyer.	Stamp Duty Land Tax is tax paid to the government on house purchases depending on the price of the house. If you have to pay the tax, you will pay your solicitor or conveyancer and they will pay it to HMRC. This happens when your house purchase has completed.	Use our stamp duty calculator to work out how much you could pay.
Solicitors or Conveyancing fee	Yes. Conveyancing is the legal process that all property sales go through.	Conveyancers deal with the transfer of property ownership. They also do checks and searches on factors that could affect the property you’re buying.	£800 - £1500+ Money Saving Expert

What documents do I need for my mortgage application?

When you complete a full mortgage application, you’ll need these details to hand:

Property details.

Current mortgage or tenancy agreement.

Employment details. If you’re self-employed or on certain types of contracts like zero hours, you will need to provide 12 months’ evidence of your earnings.

Bank details for setting up your payments.

You’ll need documents to prove your ID and address:

To be 18 or over and have one of the following for ID checks:

An up-to-date ID document such as,

- Signed passport.
- Signed full or provisional UK/EU driving licence.

To check your address you’ll need one of these:

- Signed full or provisional UK/EU driving licence.
- UK bank or building society current/savings account or credit card statement, from the last 3 months.
- UK utility bill from the last 3 months.
- Letter from HMRC including tax credit or statement (not P45 or P60) from the last 12 months.
- Council tax bill from the last 12 months.

You’ll need documents with details of your finances:

Your wages from your latest 3 payslips and a bank statement showing the latest salary credit into your account.

Bonus, overtime, or commission payments shown in other payslips.

Child benefit payments shown in a bank statement.

Details of any other financial commitments such as loans, school or childcare fees and any other debts you are repaying.

What are the different types of products?

Mortgage type	Description
Tracker rate	A tracker mortgage has a variable rate that tracks or follows the Bank of England base rate, or the lenders standard variable rate, for the initial period of the mortgage deal. Read more about tracker mortgages
Fixed rate	A fixed rate mortgage means your interest rate is fixed for the initial period of the mortgage deal. This means your mortgage payments won't go up or down during this time. Read more about fixed rate mortgages
Offset	An offset mortgage is a way of linking your mortgage with your savings to reduce the amount of interest you pay. Read more about offset mortgages

Mortgage type

Description

Tracker rate

A tracker mortgage has a variable rate that tracks or follows the Bank of England base rate, or the lenders standard variable rate, for the initial period of the mortgage deal.

What is a capital repayment mortgage and interest only mortgage?

Capital repayment or repayment mortgage

A capital repayment mortgage is the most common type of mortgage. It has monthly payments made up of two parts. One part pays off the interest you owe, and the other part reduces the loan amount.

When you reach the end of your mortgage term you will have paid off the mortgage loan and the interest.

Interest only mortgage

An interest only mortgage will have smaller monthly payments than a repayment mortgage, but only pays off the interest of the mortgage loan.

When you get to the end of the mortgage term you will need another way of paying off the loan, in one lump sum.

Read our guide interest only mortgages

What’s the difference between freehold and leasehold properties?

Freehold and leasehold are types of property ownership

Freehold: You own the property and the land it’s built on for as long as you want.

Leasehold: You own the property for a set period of time, but not the land it’s built on.

Read our guide, leasehold and freehold differences