Are there hidden costs when buying a property without a mortgage?
If I buy a flat outright with no mortgage do I have to pay any extras? i.e. roof, lifts, gardens, etc.
Actually buying a property without a mortgage is somewhat cheaper than buying if you do. You don’t have any mortgage arrangement fees or survey fees.
However, I would say that if you do buy a property, even without a mortgage, you will need to have a survey just in case you are making an expensive mistake buying something with an inherent problem.
Budget for about one thousand pounds or so for your solicitors and all of the associated costs with that and that should be everything you need to budget for.