The average Brit moves home around 3 or 4 times during their lifetime and now spends an average of £16,000 each time they move, totting up to a fair sum when you consider all of the associated mortgage costs involved.
compare mortgages
This might seem like a peanuts compared to the total amount you will be paying towards your mortgage, but actually its the equivalent of 2.3 years annual salary based on the average UK wage enough to buy a two bedroom Finca in the Costa Del Sol or a brand new one-bed apartment in the centre of Bordeaux.
Considering that the £16,000 is made up of lawyers, estate agents and financial advisers fees, removal costs and stamp duty, as well as the money spent to get their old property in a saleable condition, the total amount we spent on moving home as a nation in 2006 was a whopping £28 billion.
find a mortgage adviser here
Nici Audhlam-Gardiner, head of mortgages at Abbey commented: Its no secret that moving home is an expensive business in fact, Im sure its one of the reasons why people dont move that often. But its astounding when you consider just how much it amounts to over a lifetime.
Abbey is offering movers a new mortgage which does away with all upfront costs including legal fees, as well as significant discounts on removal costs and cash back on insurance after their first year in the new home. The only one of its kind in the market, Abbey does all the legwork associated with the sale and purchase of a new property for borrowers. However it does pay to shop around first to see if this could really be the right deal for you as a mortgage deal isnt purely about the added extras.
find a best-buy mortgage
