The purchase price is only part of what you’ll pay when buying a home. On top of your deposit, there are solicitor fees, survey costs, mortgage fees, and potentially stamp duty to budget for. For most buyers, the additional costs on top of the deposit come to between £3,000 and £6,000. Here’s exactly what to expect.
Quick Answer
- Stamp Duty: zero for first-time buyers up to £425,000
- Solicitor fees: £1,000 to £1,800
- Survey: £400 to £600 for a HomeBuyer Report
- Mortgage arrangement fee: £0 to £1,500 depending on the product
- Removal costs: £500 to £1,500 for a local move
- Total additional costs: typically £3,000 to £6,000 on top of your deposit
Stamp Duty Land Tax
Stamp Duty Land Tax is paid on properties above certain thresholds. The amount you pay depends on the purchase price and whether you’re a first-time buyer.
First-time buyers pay no stamp duty on properties up to £425,000. On properties between £425,001 and £625,000, five percent is due on the amount above £425,000. Properties above £625,000 do not qualify for first-time buyer relief and standard rates apply.
Standard rates for those who have owned property before:
- Up to £250,000: zero percent
- £250,001 to £925,000: five percent
- £925,001 to £1.5 million: ten percent
- Above £1.5 million: twelve percent
Stamp duty is paid by your solicitor on completion. You’ll need to have the funds available at that point.
Solicitor and Conveyancing Fees
Every buyer needs a conveyancing solicitor to handle the legal transfer of ownership. Fees vary between firms but most buyers pay between £1,000 and £1,800 in total, including disbursements.
That total typically covers:
Legal fees. The solicitor’s charge for their time. Usually £700 to £1,200.
Local authority searches. These check for planning issues, road schemes, drainage, and environmental matters. Typically £200 to £350 depending on the area.
Land Registry fee. Charged by the Land Registry to register the change of ownership. Varies by purchase price, usually £20 to £455.
Bank transfer fee. A small charge for transferring funds on completion. Usually £20 to £50.
Get quotes from two or three solicitors before instructing. Be wary of unusually cheap quotes as they sometimes come with hidden extras. For local options, see Conveyancing Solicitors In Stockport.
Survey Costs
Your mortgage lender will carry out a basic valuation of the property. This is not a survey. It’s done to protect the lender, not you, and it won’t flag issues with the property’s condition.
You should arrange your own independent survey. There are three main types:
HomeBuyer Report. The most common choice for standard properties built after 1900. Covers the condition of the property, flags any significant issues, and provides a market valuation. Costs roughly £400 to £600.
Full Structural Survey. A more detailed inspection suitable for older properties, unusual construction, or anything that raises concerns. Costs £600 to £1,500 depending on the property size and location.
Condition Report. The most basic option. Suitable for newer properties in good condition. Costs around £250 to £350 but provides limited detail.
For most buyers purchasing a standard Stockport property, a HomeBuyer Report strikes the right balance between cost and thoroughness. See What Surveys Do I Need When Buying A House? for more detail.
Mortgage Costs
Getting a mortgage isn’t always free. Depending on the product you choose, there may be fees involved.
Arrangement fee. Some mortgage deals carry an arrangement fee of £500 to £1,500. Products with lower interest rates often have higher fees. Your broker will help you work out whether paying the fee makes sense over the mortgage term.
Mortgage valuation fee. Some lenders charge for the valuation they carry out on the property. Others include it for free. Typically £150 to £400 if charged.
Broker fee. Some mortgage brokers charge a fee for their advice, typically £300 to £500. Many are fee-free, earning commission from the lender instead. Always ask upfront.
Removal Costs
Unless you’re moving from rented accommodation with minimal possessions, you’ll need to budget for removals.
A local move within Stockport using a professional removals company typically costs £500 to £1,000 for a two to three bedroom property. Larger homes or longer distances cost more. Moving in summer or at the end of the month, when demand for removals vans peaks, can push prices up.
Get three quotes and book early, particularly if you’re aiming for a specific completion date.
Other Costs To Consider
A few additional expenses that are easy to overlook:
Buildings insurance. Required by your mortgage lender from the date of exchange. Budget £150 to £300 per year for a standard property.
Leasehold costs. If you’re buying a leasehold property, check the service charge and ground rent before committing. These are ongoing costs on top of your mortgage. See Leasehold vs Freehold Explained for more.
Immediate repairs or improvements. Even a well-presented home often needs work once you move in. A fresh coat of paint, new flooring, or updated fixtures add up quickly. Be realistic about what you’ll want to do once you’re in.
Total Cost Summary
For a first-time buyer purchasing a £275,000 property in Stockport with a ten percent deposit:
- Deposit: £27,500
- Stamp duty: £0 (first-time buyer relief)
- Solicitor fees: £1,400
- HomeBuyer Report: £500
- Mortgage arrangement fee: £999
- Removals: £750
- Buildings insurance (first year): £200
Estimated total required: approximately £31,350
This is an illustration. Your actual costs will vary depending on the property, lender, and solicitors you choose.
FAQs
Do first-time buyers pay stamp duty?
First-time buyers pay no stamp duty on properties up to £425,000. On properties between £425,001 and £625,000, five percent is due on the amount above £425,000. Properties above £625,000 do not qualify for first-time buyer relief.
Can I add the mortgage arrangement fee to my loan?
Yes, most lenders allow you to add the arrangement fee to the mortgage rather than paying it upfront. Bear in mind you’ll pay interest on it for the full mortgage term, which increases the total cost.
Are solicitor fees fixed or variable?
Solicitor fees vary between firms and are often based on the purchase price. Always ask for a full breakdown of costs including disbursements before instructing, so you know exactly what you’re paying.
Do I need a survey if I’m getting a mortgage?
Your lender carries out a valuation but this is not a survey. It won’t assess the condition of the property. Arranging your own survey independently is strongly recommended and can save you from costly surprises after you move in.
What is the cheapest way to buy a house?
Keeping costs down means comparing solicitor quotes, choosing a mortgage product with no arrangement fee if the rate is competitive, and negotiating removal costs. First-time buyers should take full advantage of stamp duty relief and the Lifetime ISA bonus.
Get Local Advice In Stockport
Understanding your full costs before you start gives you a much clearer picture of what you can realistically afford. Find mortgage brokers in Stockport for advice on the right product for your situation. Compare conveyancing solicitors in Stockport to find transparent, fairly priced legal support.