Buying a Home in the UK: The Costs You Need to Budget For

Buying a home in the UK takes more than a deposit. Property tax, legal work, mortgage fees, a survey and moving expenses need a separate budget. Use this checklist to collect actual quotes before committing to a purchase.

Checked on 3 October 2026. This guide covers buying a home to live in. Taxes and the purchase process differ across the UK.

Your deposit and your spending budget

A deposit is the part of the purchase price you fund yourself. On a £300,000 home, a 10% deposit is £30,000, leaving £270,000 to borrow. This is an illustration of the arithmetic, rather than a promise that a particular mortgage will be available.

Keep purchase expenses separate from your deposit. Using every pound of a £30,000 savings pot as the deposit leaves nothing for fees or initial repairs. Check when funds must be available, particularly if they come from overseas, a family gift or another property sale.

Property tax depends on where you buy

*Standard residential rates before reliefs or surcharges. Tax applies in bands; a threshold does not exempt the whole price.

For a £300,000 purchase in England or Northern Ireland, standard SDLT is £5,000: £2,500 on the portion between £125,000 and £250,000, and £2,500 on the remaining £50,000. An eligible first-time buyer can pay £0 at that price. All joint buyers must satisfy the relief conditions.

Tell your solicitor about other properties and your residence position before finalising the tax budget. Surcharges can change the result. Use the relevant authority’s guidance and calculator: HMRC, Revenue Scotland or Welsh Revenue Authority.

Mortgage and broker fees

Compare fees alongside interest over the period you are assessing. A lower monthly payment can come with a higher product fee. Ask which charges are compulsory, when they fall due and whether they are refundable if the purchase falls through.

Adding a fee to the mortgage means paying interest on it too. If you use a broker, establish their charge and when it becomes payable. Our guide to using a mortgage broker explains what to ask. The mortgage calculator can help explore repayments; its result is not a lending decision.

Conveyancing, searches and registration

Conveyancing is the legal work involved in buying the property. Request a written quote separating professional fees, VAT, searches, money transfers and external charges. For a leasehold purchase, ask about additional work and administration fees.

Compare the total rather than an advertised headline legal fee. Check what can be added, what you would owe if the transaction stops, and whether the firm can also act for your chosen lender.

In England and Wales, HM Land Registry charges a registration fee. An electronic Scale 1 application transferring the whole of an already registered title valued at £300,000 attracts a £150 fee in the relevant application category. Different application types or submission methods can cost more. Check the official fee schedule.

A survey is different from the lender’s valuation

A lender’s valuation is not a replacement for a condition survey. A survey commissioned for you helps assess the building and identify whether further investigations are needed. RICS Home Surveys have three levels, with the appropriate scope depending on the property’s age, type and condition. RICS explains the options.

Get a quote for suitable coverage rather than simply choosing the cheapest report. Budget for recommended repairs and specialist inspections after reading it. In Scotland, review the available Home Report and discuss whether you need additional investigations.

Moving, insurance and the first few weeks

Allow separately for removals, packing, storage and any overlap between rent and the costs of your new home. Confirm with your solicitor and lender when buildings insurance must begin. Check which fixtures and appliances are included in the sale.

After moving, you will have mortgage payments, household bills, maintenance and local taxation: Council Tax in Great Britain or domestic rates in Northern Ireland. For England, Scotland and Wales, see our Council Tax guide.

Leasehold and estate charges

For leasehold, investigate service charges, any ground rent, the remaining lease term and planned major works. Ask for documents showing current charges and how they can change. A substantial bill for building work can matter more than a small difference in the asking price.

Freehold homes can also carry estate management charges. Your solicitor should explain the obligations attached to the title. GOV.UK explains leasehold service charges.

Build a budget you can use

For the £300,000 home with a 10% deposit, start with £30,000 plus the applicable property tax. In our standard SDLT example, that tax is £5,000. Add actual quotes for legal work, the mortgage, survey, insurance and moving, plus a reserve of your own. £35,000 is therefore not the complete cash requirement.

Record each amount alongside its payment date and refund terms. Review the total with your solicitor and broker before committing. This helps you judge whether you can afford both completion and the weeks after collecting the keys.

Sources

• MoneyHelper — buying and moving costs
• GOV.UK — How to buy a home (purchase process; current tax rates checked separately)
• HMRC — SDLT, Revenue Scotland — LBTT, GOV.WALES — LTT
• HM Land Registry — fees
• RICS — Home Surveys
• GOV.UK — service charges