Costs of buying a house in the Uk

The costs associated with buying a house in the UK can be roughly split into two sections: upfronts costs or ongoing costs.

Upfronts costs to buy a house in the UK:

Stamp duty:

This applies to all property purchases over £125,000 at a rate of between 2-12% (or 3-13% for second homes or buy-to-let purchases). You can estimate the stamp duty you will pay using this calculator.

Deposit:

If you take out a UK mortgage to buy a house in the UK, you’ll need to pay a deposit towards costs which usually range between 5-40% of the property cost.

Mortgage costs:

If you take out a mortgage to buy your home, there are various fees associated with this including arrangement fee, booking fee, and valuation fee.

These can add a couple of costs:

Legal Fees:

You will need to employ a solicitor or conveyancer to

act on your behalf, whether you take out a mortgage or not, these fees can be upwards of 1,000 Pounds.

Land Registry Fees:

These are paid to the UK government for the purpose of transferring the property’s legal deeds to a new owner.

Removal Costs:

These are the costs of transferring your possessions to the UK from your old home. If you pay a removal company to do this, costs will depend on how much you have to move and how far it has to travel, but average costs can be between £300-600.