Brits spend big sums on house moves
Published on : 14/05/2007
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The average Brit spends around £54,400 on moving houses during their lifetime, new research shows.
A new study from Abbey reveals that people in the UK shell out significant amounts, other than simply the price of the property, when moving house.
And, according to the research, the average Brit moves between three and four times in a lifetime - with the total cost of moving homes coming in at a staggering £54,400 - 2.3 times the mean UK annual salary.
Homeowners surveyed by Abbey said that they had spent £16,000 on average for their last move - mainly on fees charged by lawyers, estate agents, financial advisors, removal firms and stamp duties.
"Its no secret that moving home is an expensive business - in fact, I'm sure it's one of the reasons why people don't move that often. But it's astounding when you consider just how much it amounts to over a lifetime.
"With the average Briton expecting to spend over two years annual average salary just meeting the costs of professional fees and stamp duty of their three or four moves, homeowners clearly need all the help they can get."
Consumers can benefit from significant discounts when moving house by taking out a mortgage that removes upfront costs.
