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01242 771 771

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Important Points and Costs to Consider

Stamp Duty


Government tax payable when you complete your purchase. How much you have to pay can depend on factors including; if you are a first time buyer, if you currently own a property already and the value of the land or property you are buying. Your solicitor will be able to advise you of your personal liability.

Valuation or Survey?

If you are arranging a mortgage to purchase your new property the lender will instruct a surveyor to carry out a valuation to confirm the property will be acceptable as suitable security. This valuation is for the lenders benefit only; in some cases the lender will pay for the whole cost of the survey but on some mortgage products this can typically cost between £200 – £350.

When buying a property you can also choose to have a more comprehensive survey completed at your own cost to understand more about the condition of the property you want to buy. Information for these types of surveys can be found here from RICS.


Solicitor / Conveyancing

When buying a property you will have to engage the services of a solicitor to handle the transaction on your behalf. The solicitor will act on your behalf to make sure that the process is completed effectively and that all the legal aspects of buying land or property are properly taken care of.

If you do not have a solicitor IMS can offer you a recommendation from our selected panel.


Credit Score

A credit score, also known as a credit rating, is a number that reflects the likelihood of you paying credit back. Lenders like banks and credit card companies will look at your credit file when they calculate your credit score, which will show them the level of risk in lending to you. You can obtain a credit report from a number or different sources including Experian and Credit Karma.

Ben Smallman
Ben Smallman
15:51 18 Feb 21
Terry is an amazing guy and delivers amazing professional standards across the board whilst delivering that personal... interest. He knows what he is doing and I cant fault him or his company to the commitment and detail to his clientsread more
Jax Mosley
Jax Mosley
15:16 18 Feb 21
Fabulous service again from Terry at IMS. He provided a fast and efficient service securing us the product that was... right for us with minimum hassle. We couldn’t recommend him more highly which is why we keep going back, this is the 6th mortgage he has arranged for us.read more
Jason Hock
Jason Hock
18:04 12 Feb 21
IMS have been looking after my mortgage requirements for over 15 years and in that time have completed at least 20... mortgages for me including personal, buy-to-let and limited company buy-to-let mortgages. IMS are experts at what they do and make the mortgage process simple and straightforward. They always look for the best deal based on individual requirements rather than how much commission they earn from lenders. One example is that IMS told me the best deal was to stick with the existing lender for a remortgage even though it meant IMS earned no commission or fees at all. I commend this exceptional level of honesty. I highly recommend IMS for anyone looking for a mortgage..read more
Ryan Carter
Ryan Carter
19:49 10 Feb 21
Excellent service, Terry helped us get a great deal on our house purchase and made the process quick and simple for us.
11:54 11 Sep 19
I have known and dealt with IMS for a number of years and always find the advisers friendly and helpful. If you need a... mortgage or insurance policy then IMS can arrange it for you.read more
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IMS - Insurance and Mortgage Services Ltd is authorised and regulated by the Financial Conduct Authority. FCA Registration number 300993

Registered Address Applegarth, The Reddings, Cheltenham, GL51 6RL

Registered in England & Wales No: 4496808

The guidance and advice contained within this website is subject to the regulatory regime and is therefore primarily targeted at consumers based in the UK

Your home may be repossessed if you do not keep up repayments on your mortgage

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