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Cost of moving house increasing

27th January 2012 | back to article listings BACK    print this article PRINT

Over the last 10 years the expense of moving house has risen and homeowners are now forking out the highest ever amount to do so.

Today people can expect to pay up to £9,000 to move, which is a 69% increase of the costs incurred in 2001 and is a bigger rise than the 64% jump in housing prices over the last 11 years.

The figures have been detailed in a Lloyds TSB study which described the increasing costs as worrying especially when the activity on the housing market is slow.

The costs are being driven up by estate agency fees, mortgage fees and stamp duty, but further problems could be added this year for mortgage lenders as the Bank of England is set to overhaul credit conditions.

Lloyds TSB said since 2001 mortgage arrangement fees have also risen by 252% to £1,076.

Copyright Press Association 2012

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