Most people focus on the purchase price when they plan a move, then feel blindsided when the solicitor's bill arrives, or when they realise their fixed-rate mortgage carries an early repayment charge. Getting a clear picture of the full cost before you commit is one of the most useful things you can do. This guide covers both sides of a transaction, buyers and sellers, so you can plan with your eyes open.
Costs for Buyers
Stamp Duty Land Tax
The temporary stamp duty relief that applied until 31 March 2025 has now ended. From 1 April 2025, the standard thresholds returned: you pay no stamp duty on the first £125,000 of a residential purchase, then 2% on the portion from £125,001 to £250,000, then 5% up to £925,000, and higher rates above that. First-time buyers retain their own relief, paying nothing on the first £300,000 provided the property costs no more than £500,000. If you completed before the April 2025 deadline, your solicitor will have confirmed the rate at the time. If you are buying now, use the government's online calculator to get an exact figure, or ask our team to run the numbers for a specific property.
Mortgage Arrangement and Broker Fees
Lenders typically charge an arrangement fee of £500 to £2,000, sometimes called a product fee. You can usually add it to the loan, though you will pay interest on it if you do. A mortgage broker may charge a separate advice fee, commonly £300 to £600, or take a commission from the lender instead. Some brokers offer a free-to-you service funded by lender procuration fees. Make sure you ask upfront which model applies.
Survey Costs
A basic lender's valuation confirms the property is worth what you are paying. It protects the bank, not you, and typically costs £150 to £400 depending on price and lender. A homebuyer report (RICS Level 2) gives you a condition rating and flags visible defects. Budget around £400 to £700. A full structural survey (RICS Level 3) is the most thorough option, advisable for older, extended, or unusual properties, and typically runs from £600 to £1,500. Skipping a proper survey to save £400 is one of the more expensive economies buyers make.
Legal and Conveyancing Fees
Conveyancing fees vary considerably. A straightforward purchase might cost £900 to £1,500 in legal fees, plus disbursements: search fees (typically £250 to £350), Land Registry fees (scaled to purchase price, usually £135 to £455 for most residential transactions), and electronic transfer fees. Always ask for a full quote that itemises disbursements separately.
Removal Costs
A local move using a professional firm typically costs £600 to £1,200 for a two-bedroom property. Larger homes, storage requirements, or long distances push that higher. Book early: completion dates cluster and good removal firms fill up weeks in advance.
Contingency Fund
Set aside at least 1% of the purchase price after completion for immediate repairs, redecoration, or appliance replacements. Properties rarely arrive in the exact condition buyers expect on moving day.
Costs for Sellers
Estate Agent Fees
A sole agency agreement (one agent only) typically costs 1% to 1.5% of the sale price plus VAT. Multi-agency, where several agents market the property simultaneously, costs more, usually 2% to 3%, because the winning agent takes the whole fee. Fixed-fee online agents can cost as little as £500 to £1,500 upfront, but check whether viewings and negotiation are included. The cheapest option is not always the one that nets you the most after sale.
Conveyancing for Sellers
Seller's conveyancing is usually slightly cheaper than the buyer's side. Budget £750 to £1,200 plus disbursements. The solicitor handles title deeds, replies to enquiries, and coordinates exchange and completion.
Energy Performance Certificate
You are legally required to have a valid EPC before marketing. A new one costs roughly £60 to £120 and is valid for ten years. Check whether your existing certificate is still current before instructing an agent.
Early Repayment Charges
If you are on a fixed-rate mortgage and selling before the fix ends, your lender may charge an early repayment charge (ERC), typically 1% to 5% of the outstanding balance. Some mortgages are portable, meaning you can transfer the product to a new property, which may reduce or remove the charge. Ask your lender or broker before you commit to a sale timeline.
Overlap Costs
If you sell before finding your next home, you may need temporary accommodation or storage. If you buy before selling, you may carry two mortgages briefly. Both scenarios cost money. Planning the chain carefully with your agent reduces the risk, though not always the reality.
A Worked Example
Say you are selling a property at £320,000 and buying at £375,000.
- Sale agent fee at 1.2% plus VAT: approximately £4,608
- Seller conveyancing: approximately £900
- EPC (if needed): £80
- Buyer stamp duty on £375,000 (standard rates): approximately £8,750
- Buyer conveyancing and searches: approximately £1,600
- RICS Level 2 survey: approximately £550
- Mortgage arrangement fee: approximately £999
- Removal costs: approximately £900
- Post-completion contingency: approximately £3,750
Total across both transactions: approximately £22,137, before any early repayment charge or overlap costs. That figure is not unusual, and planning for it avoids a last-minute scramble for funds.
The Government Reform Road Map
The government has published a home-buying reform road map with the stated aim of saving buyers £180 million a year and cutting average transaction times. Key proposals include upfront property information packs, digital title registers, and measures to reduce the number of sales that collapse after offer acceptance. Some changes are already being piloted. Ask your solicitor or agent what is in place in your area, as implementation is gradual.
Where You Can Legitimately Reduce Costs
Compare at least three conveyancing quotes, but check reviews and completion times, not just price. Use a broker to find the mortgage arrangement fee that suits your situation rather than defaulting to your current bank. If the property is modern and recently surveyed, a Level 2 homebuyer report may be sufficient. Book removals early for better availability and pricing. And if your EPC is less than ten years old, check the register at gov.uk before paying for a new one. None of these steps involve cutting corners; they involve making informed choices rather than default ones.
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