The true cost of buying a home
What you'll learn
Understand the one-off costs of buying beyond the deposit.
The deposit is only the start. Buying a home carries one-off costs that catch first-time buyers out, and they can run to thousands on top of the deposit.
| Cost | Roughly | Notes |
|---|---|---|
| Stamp Duty | Varies | First-time buyer relief up to £500,000 |
| Conveyancing / legal | £1,000 to £2,000 | Searches and Land Registry |
| Survey | £400 to £1,500 | Depends on how detailed |
| Mortgage fee | Up to about £1,000+ | Often addable to the loan |
| Removals | A few hundred plus | More for a bigger home |
Stamp Duty is the big variable. In England and Northern Ireland, first-time buyers pay nothing on the first £300,000 and 5% on the slice up to £500,000 (2026/27, so check the current thresholds; Scotland and Wales have their own systems). Above £500,000 a first-time buyer gets no relief.
The rest are smaller but add up: a solicitor for the legal work, a survey to check the property, a mortgage arrangement fee, and the cost of actually moving.
Budget for these separately from your deposit. A buyer who saves a perfect 10% deposit and forgets the fees can find themselves a few thousand pounds short at the worst possible moment.
Key takeaways
- Buying costs more than the deposit: legal fees, survey, mortgage fee and removals.
- First-time buyers pay no Stamp Duty up to £300,000 in England and NI (2026/27).
- A mortgage fee added to the loan is paid off with interest over the whole term.
- Budget the one-off costs separately so they do not catch you short on completion.
Illustrative typical ranges, excluding Stamp Duty which varies with price. Real costs depend on the property and providers you use.
Frequently asked questions
Do first-time buyers pay Stamp Duty?
In England and Northern Ireland, first-time buyers pay nothing on the first £300,000 and 5% on the slice up to £500,000 (2026/27 - check the current thresholds). There is no relief above £500,000. Scotland and Wales run their own systems.
What costs do buyers most often forget?
Conveyancing (legal work), a survey, the mortgage arrangement fee and removals. Together these can run to several thousand pounds on top of the deposit.
Can I add the mortgage fee to the loan?
Often yes, but you then pay interest on it for the whole term, so a fee added to a 25-year loan costs far more than the headline amount.
General information, not financial advice. The value of investments can fall as well as rise, and figures and rules can change; check the current position before acting.