Increased fees for house buyers

Nationwide BS has increased the cost of its valuation and homebuyer reports.

This means a borrower buying a property at £173,225 through Nationwide will pay £525 for a homebuyer report (a rise of 6%). As for those purchasing a home between £450,000 and £500,000, they will be charged £850-this is a 28.7% increase.

The BS strongly recommend their borrowers to opt for a more detailed homebuyer report to check and see just what condition the property is really in. They say the cheaper valuation report is more suited to new build properties.

Valuation fees are rising from roughly £325 to £340 for an average priced property.

The fees mentioned are applicable to home movers and first time buyers seeking a Nationwide mortgage. They would like to remind us that there are no fees for re-mortgages or top-up loans.