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There’s a simple rule that applies to almost every house move we ever make – it will always cost more than we expected.
Stamp duty, removal costs, estate agents’ fees, mortgage application fees, valuation charges, legal bills and a host of other charges can easily add up to thousands, if not tens of thousands, of pounds. And even if you think you’re ready for the worst the addition of 17.5 per cent VAT to most of the costs can feel like the lowest blow of all.
It’s little wonder then that so many house movers don’t reckon that they have any spare cash left over to furnish their new homes – or even to buy essential items like new cookers, fridges or washing machines. Little wonder, also, that cashback mortgages can seem like the solution to all our financial worries.
Neil Simpson is a former Personal Finance Journalist of the Year and writes regularly on property, mortgage and insurance issues for the Mail on Sunday and many other publications.