Costs to consider
legal costs
Solicitor’s/conveyancing costs (estimated)
£700-£1,500
Local authority search fees (estimated)
£200-300
Land Registry fees:
For an existing property:
Land Registration Fees for a purchase of £80-£100k Land Registration Fees for a purchase of £100-£200k Land Registration Fees for a purchase of £200-£500k Land Registration Fees for a purchase of £500k - £1 mil | £40.00 £95.00 £135.00 £270.00 |
For a new build property:
Land Registration Fees for a purchase of £80-£100k Land Registration Fees for a purchase of £100-£200k Land Registration Fees for a purchase of £200-£500k Land Registration Fees for a purchase of £500k - £1 mil | £80.00 £190.00 £270.00 £540.00 |
Stamp Duty Land Tax (SDLT):
£0-£125,000 £125,001 to £250,000 £250,0001 to £925,000 £925,001 to £1.5 mil (Example £500k purchase SDLT would be £12,500 (0% on £0-125k, 2% at £125-250k, 5% on £250-£500k) | Zero 2% 5% 10% |
Note: The stamp duty holiday runs until the end of June, and then First Time Buyers Relief may be claimed for purchases under £500k provided you meet the eligibility criteria
Other costs
Other non-legal fees to consider (all estimated and dependant your own circumstances):
Mortgage Arrangement fee
£0-£1,500
Mortgage Valuation
£0-£300
Survey
£300-£700
Mortgage broker’s fee
£0-500
Buildings insurance
£200-300
Service charges and ground rent on leasehold flats
£100-£4,000 per annum
Removals (if required)
£1000-2500
Furnishing your home (if required)
