Covering Your Costs

The Costs Involved In Home Buying

Handing over the keys to a new home.Selling your home and buying a new property will probably be the biggest financial transaction you can make and the costs involved are many and varied.

We’ve listed a quick breakdown of the types of costs you should budget for, before you even think about the funds you have available to use as a deposit for your new home.

Further details and impartial advice on all aspects of buying and selling property can be found at the following websites:

Selling Costs

  • Preparation for selling (repairs, decorating and staging for viewings)
  • Marketing/Estate Agent’s Fee
  • Solicitor’s Fee
  • Mortgage Redemption Fee
  • Outstanding and Final Utility Bills
  • Bridging Loan

Purchasing Costs

  • Stamp Duty Land Tax
    Calculate the cost you have to pay to the Inland Revenue by using the online calculator at
  • Solicitor’s Fee
    May be fixed or varied, depending on the work involved, but should include:
    • Local Authority, drainage and environmental searches
    • Land Registry searches and fees
    • Bank Transfer charges
    • Mortgage Broker’s Fee
    • Mortgage Lender’s Legal Fee
    • Mortgage Lender’s Valuation Fee
    • Mortgage Lender’s Agreement Fee
    • Mortgage Indemnity Guarantee
    • Professional Indemnity Cover
    • VAT
  • Surveys
  • Buildings and Contents Insurance
  • Removal Costs
  • Contingency Fund
  • Deposit