Wondering how much it costs to buy a house or a flat? There’s a list of fees to consider when buying a new house, including the cost of movers, taxes, insurance, your deposit and solicitor fees.
What’s in this guide
- Major upfront costs
- Mortgage fees
- Ongoing costs
- Leaseholders’ costs
- Freehold or leasehold
- Costs of moving home
Major upfront costs
Make sure you have saved enough to cover all the upfront costs.
Stamp Duty calculator
Use our Stamp Duty calculator to work out how much you’ll pay when buying your property in England or Northern Ireland.
Until 30 June 2021, you will not have to pay Stamp Duty on properties costing up to £500,000. This will apply whether you’re a first-time buyer or have previously owned a property.
Properties costing more than £500,000 will pay the Stamp Duty rate based on the value of the property over £500,000.
From 1 July to 30 September 2021, you will not have to pay Stamp Duty on residential properties costing up to £250,000. If you’re a first-time buyer, you will pay no Stamp Duty on properties costing up to £300,000, and a discounted rate, up to £500,000.
From 1 October, you will pay Stamp Duty on properties costing more than £125,000 for residential properties, unless you’re a first-time buyer.
If you’re buying a second home, you’ll still pay an extra 3% Stamp Duty on properties costing more than £40,000 at the relevant rate at that time.
This tax applies to both freehold and leasehold properties – whether you’re buying outright or with a mortgage.
If you’re buying a property in Scotland, you will pay Land and Buildings Transaction Tax (LBTT) and in Wales Land Transaction Tax (LTT) instead of Stamp Duty..