Contact Information

Forest of Dean District Council
Council Offices
High Street
Coleford
Glos
GL16 8HG

Tel: 01594 810000
council@fdean.gov.uk

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Is home ownership for me?

There are many items and costs you will need to consider when purchasing a new home.

You will need access to a minimum of £2,500 to purchase your home. This is based on a number of costs associated with buying a property including :

· Solicitor's fee
· Survey and/ or valuation on property
· Production of a shared ownership lease (if required)
· Stamp Duty (1% on full purchase price)
· Land Registry fee
· Bank fees and other charges
· Solicitor's fee
· Local authority search
· Notice of charge and transfer
· Production of a shared ownership lease (if required)
· Stamp Duty (1% on full purchase price)

If rental costs are involved, the RSL or developer will advertise these, and these need to be considered in addition to any monthly mortgage payments. You will also have to budget for utilities such as gas, electric, water and other costs such as council tax, telephone, television etc. and will be in addition to your monthly mortgage and rent payments.

It is your responsibility to decide whether or not a Homebuy product is suitable for you and you may wish to see an independent financial advisor and take your own legal advice. Please remember that your home will be at risk if you fail to keep up your mortgage and rent repayments.