Go paper-free
Amend paper-free preferences for your statements and communications.
The cost of buying your first home
From stamp duty to conveyancer fees, there are lots of costs to think about when buying your first house.
We can help you understand
The cost of buying a home is more than just the amount of the monthly mortgage repayments. We’ll guide you through what costs you may have to pay, so you can plan your budget.
- Common mortgage costs.
- Costs you’ll need to pay before you move in.
- Running costs after you've moved in.
Common mortgage costs
You may be charged some of these costs when you take out a mortgage.
Deposit
The biggest upfront cost involved in buying your first home is a deposit.
What does it cost: minimum of 5% of the property value.
Product fees
This is the cost of setting up your mortgage deal with a lender. Some lenders let you include this cost with your mortgage. But you'll then pay interest on this charge.
MoneyHelper shows that a product fee can range from £0 to £1500.
Valuation fees
Your lender will need a valuation of the property you’re buying. This is to make sure it’s worth the price you are paying. Your lender will arrange the valuation.
This generally costs £100.
Survey costs
A property survey will highlight any problems with your new home before you buy it. A property surveyor completes a survey and details any repairs that you may need to do.
There are different levels of survey depending on how detailed you want the report to be.
Costs for property surveys typically range from £300 to £1,500.
Conveyancing
A conveyancer will handle the legal bits for buying your home.
Costs are usually around £1300 to £1800.
Other costs to expect to pay before you move in
Land registry
The Land Registry is a central record of who owns a property or land.
They charge a fee to register you as the legal owner when you buy a house. The fee is calculated from the value of the property you are buying.
Buildings insurance
You’ll need this in place for the date that contracts are exchanged. Building insurance protects your new home’s structure and outbuildings too.
It covers any permanent fixtures and fittings. For example, plumbing, wiring and kitchen/bathroom fittings for things like fire, theft and storm damage.
Removal costs
You may need to hire a removal van when you move. How much you pay will depend on what you are moving and how far you’re travelling. Or get friends and family to help. It’ll be a lot cheaper to do it yourself, if you can.
Use our moving house checklist for some tips on packing and getting ready for your moving in day.
Important information about these costs
All figures are based on average costs for first-time buyers and are intended as a guide only. The costs of buying a home will vary depending on your individual circumstances. This information is up to date as of June 2026.
Running costs after you've moved in
Budget for running costs to make sure you’ve got money left each month for food and transport.
You could lose your home if you don’t keep up your mortgage repayments
You might also like
