Mortgage Repayments
If you are buying your house with a mortgage you will have monthly mortgage repayments. You may also wish to consider taking out Mortgage Protection Insurance to cover you if you can’t pay your mortgage because you lose your job or cannot work because you are ill.
Building & Contents Insurance
You will have to insure your home against things like fire, flood and storm damage. You should also think about insuring the contents of your home as well as the building itself.
Repairs & Maintenance
You will have to pay for all the repairs in the property – from a leaking tap to a new roof – and you will need to allow for regular maintenance such as painting the outside of your house and re-pointing.
Service Charges (flats)
If you are buying a flat you will have to pay service charges for the services and repairs provided by the Council. Please refer to our leaflet ‘A Guide to Buying Flats or Maisonettes’ for further advice.
Utility Services
You will still have your regular bills for utility services to your property such as Council Tax, Water Rates, electricity, gas, telephone, etc.
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