FIRST-TIME buyers in West Yorkshire are seriously under-estimating the cost of buying a house, it has emerged.
A survey by Yorkshire Bank showed that a third of first-time buyers in the region were so preoccupied with saving for a deposit that they didn't take account of legal fees, mortgage arrangement fees and survey charges.
As a result, many buyers were having to consider personal loans in addition to their mortgages.
The survey said the average first-time buyer had to fork out an extra £3,155 to buy their home, on top of a deposit and mortgage.
The figure includes average stamp duty of £1,380, legal fees of about £500, survey costs of £870 and £400 removal costs.
The survey comes as Yorkshire estate agents reported no signs of a slowdown in the housing market.
Figures from the Royal Institution of Chartered Surveyors showed house prices and sales are continuing to rise.
Alex McNeil, of Bramleys in Huddersfield, said: "The market remains buoyant, with high levels of activity."
He said the housing market was being underpinned by people buying property as an investment.
But he added: "Some unbelievable prices achieved in the past 12 months are now occurring less frequently, as many buyers anticipate that the market may be reaching - or has already reached - its peak.
"It is now important there is a period of sustained stability," he added.