For an average UK property at £292,000, buying costs range from £7,750 to £11,350 before the deposit. Here's every cost, when it falls due, and where you can save.
Summary (£292,000 Average UK Property)
| Cost Item | Typical Cost | When You Pay |
|---|---|---|
| Stamp Duty Land Tax (SDLT) | £4,600 | Within 14 days of completion |
| Conveyancing Legal Fees | £717–£1,738 | Upfront (searches) + completion |
| Conveyancing Disbursements | £1,126.50 | Throughout (often before completion) |
| Valuation Report | £220–£520 | Mortgage application stage |
| Survey (RICS Level 2 or 3) | £290–£1,124 | After offer, before exchange |
| House Removals | £506–£1,914 | Around completion |
| Postal Redirection | £41.50–£87 | Just before/after completion |
| Buildings Insurance | £242.35 avg | From exchange of contracts |
| Nation | Tax Name | Starts From | Deadline |
|---|---|---|---|
| England & N. Ireland | Stamp Duty Land Tax (SDLT) | £125,000 | 14 days after completion |
| Scotland | Land and Buildings Transaction Tax (LBTT) | £145,000 | 30 days after completion |
| Wales | Land Transaction Tax (LTT) | £225,000 | 30 days after completion |
First-Time Buyers: SDLT Relief in England
First-time buyers pay 0% SDLT up to £300,000, then 5% on the portion from £300,001 to £500,000. Above £500,000, the standard rates apply (no relief). Always check your eligibility before budgeting for tax.
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Get Free QuotesYour conveyancing fees come in two parts:
Most mortgage deals require at least a 5% deposit, but a bigger deposit gives you access to better rates and reduces monthly repayments. Mortgage fees to be aware of:
| Fee Type | What It Is | When to Watch |
|---|---|---|
| Arrangement/Product Fee | Charge for setting up a specific mortgage deal | Can be added to mortgage, but increases total cost |
| Booking/Reservation Fee | Secures a deal while your application is processed | Often non-refundable if deal falls through |
| Lender Valuation Fee | Lender checks property value for its own risk | Some deals include it; ask if it's covered |
| If Your Situation Is... | Recommended Survey | Why |
|---|---|---|
| Modern property, good condition | RICS Level 1 | High-level condition overview |
| Conventional property, want clearer guidance | RICS Level 2 | More detail and advice on repairs |
| Older, altered, or non-standard property | RICS Level 3 | Most thorough; worth the cost for complex homes |
When You Instruct
Upfront payment for searches and early disbursements (typically £250–£450). Broker fees if applicable.
During the Process
Survey costs, specialist follow-up checks, lender valuation fee.
Exchange of Contracts
Deposit paid. Buildings insurance must be in place from this point for freehold purchases.
Completion Day
Remaining mortgage funds and conveyancing balance paid. Keys received.
Within 14 Days of Completion
SDLT return and payment due (England). 30 days for Scotland (LBTT) and Wales (LTT).
For an average £292,000 property, buying costs (excluding deposit) range from £7,750 to £11,350. The biggest single cost is usually Stamp Duty Land Tax (£4,600 for a non-first-time buyer), followed by conveyancing fees.
The main cost buckets are: property tax (SDLT/LBTT/LTT), conveyancing fees and disbursements, survey, lender valuation, mortgage fees, buildings insurance, removals, and post-completion setup costs. The timing-based costs (paying before completion) often catch buyers by surprise.
In England, first-time buyers pay 0% SDLT on the first £300,000 (with standard rates applying above, up to £500,000 limit for relief). Scotland offers first-time buyer relief on LBTT. Wales does not have specific first-time buyer relief.
Before completion, you'll need cash for: survey fees, upfront disbursements (£250–£450), any lender fees, and your deposit at exchange. The safest approach is to budget by stage, as not everything is due on completion day itself.