When are costs paid when buying a house?

First Time Buyers FAQs

Find out the answers to your frequently asked questions

When are the costs paid when buying a house?

As a first time buyer one of the questions you will want answered is when are the costs paid when buying a house?

The simple answer is that you don’t pay anything to us as your solicitor until a couple of days before the day we are due to complete the purchase of your new home.

We understand that this can be a stressful time for you and so we aim to keep the process clear and simple by calculating the money due by you for the deposit, the fees and the costs in one sum.

What are the costs?

The total funds you will need to send us are:

  • The deposit (ie the balance of the purchase price after deducting the amount of your mortgage)
  • The registration dues payable to Registers of Scotland to register your title and the lender’s security for the mortgage; and
  • Any tax payable (LBTT – the Scottish Stamp Duty).

How do I know how much to pay?

Once your mortgage offer has been issued, we will be able to calculate the amount required to meet everything – the deposit, fees and costs.

That calculation will be sent to you at that time with our informative guides on how and when you can send the funds to us.

When do I need to send you my funds?

In order to keep your moving day as stress-free as possible, we ask you to send the funds to us at least two days before the Date of Entry (the date we complete the purchase of your new home).

In summary, the fees and costs involved and your deposit are not payable until shortly before we are due to complete your purchase. 

We have a whole list of FAQs for first time buyers

If you have any more questions you would like answered, then you might find them in our First Time Buyer FAQs section.

About Cameron Stephen & Co

We are a firm of solicitors and estate agents based in the Leith area of Edinburgh. 

We specialise in helping first time buyers in Edinburgh. So, if you would like to find out more, then below are a few links to get you started.

Special Fee Offer for First Time Buyers

We offer a great value fixed fee for first time buyers.

Need help finding a mortgage?

Why not get in touch with Alasdair who will be able to help you?

Find out more about buying your first home

You can find out a lot more information on our website