# New Years Resolution - Buy a Flat!



## m0bov (May 2, 2007)

Ok, I am not spending money on another new car! My Octavia is 2 years in Dec and want to keep it for another 4-5 years. Its got all the kit plus Freeview, SatNav and other extras which took me ages to sort out!

So, I am looking to purchase a flat, 1 bed in North Surrey, got £25k saved up, looking at £110k to £120k. Mortage repayments I think are around £500 a month.

What I need to get my head round is the outlay to get into the flat, so lets say I see a flat, I view it and put an offer in and they take it. What's it gonna cost? Excluding things like furnishings....I know I need to pay out for solicitors and survey. I want to make sure I leave myself enough doh.

Thanks chaps.


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## wish wash (Aug 25, 2011)

You might have better determination than me, i should do the same really. I know i'll end up buying a gtr. Good look


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## m0bov (May 2, 2007)

I got my previous car, Mazda6 Sport new in 2005 and sold it 2009, lost a huge amount of cash on it, so got my Scud Dec09 and if I sell it in a year or two it will just loose me more cash. Next car will be less thirsty I think and cheaper!


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## peanut1 (Dec 29, 2009)

Costs will be as follows; Solicitors fees around £500 depending who you go to and also make sure they do a no sale no fee policy as if something goes wrong with the purchase you would still get a bill. No stamp; duty (1%) until you pay £125k+. Survey could be anywhere around £250 and you wont be able to get a full structural if your buying a flat. Make sure you have at least 90 years lease on it and that the maintenance isnt high. Average is around £600 per year plus ground rent of £100 a year. Hope that helps?


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## m0bov (May 2, 2007)

So put aside a grand really? Cheers.


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## Derekh929 (Aug 28, 2011)

Great idea going for property great you have saved uk £25k good commitment you just do different things with your money after you buy a flat, hope you find a good deal


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## m0bov (May 2, 2007)

Thanks for all suggestions. I saved the money in an ISA, been putting away the max for the last 10 or so, so not really saving hard as still had money for car, toys, gadgets etc.. Can't complain.


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## LudwigVonSpork (Oct 25, 2011)

Never buy a Fiat. They break down a lot.


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