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Extra Costs to Budget For when Buying a Home

Part of the Buying a Home on a Budget For Dummies Cheat Sheet (UK Edition)

On top of the property purchase price, you must remember to budget for a number of extras. Make sure you don’t get surprised by hidden costs when buying a house in the UK. Make sure you’re aware of these fees and bills:

  • Solicitor’s fees, local searches, and Land Registry fee.

  • Stamp Duty Land Tax on properties over £125,000, £150,000 in certain disadvantaged areas, or £250,000 if you are a first time buyer.

  • Mortgage lender’s valuation and survey. It’s tempting to skimp on the survey but you may regret it in the long run.

  • Mortgage application fee, booking fee, arrangement fee, and mortgage broker fee (where applicable).

  • Buildings insurance. You can’t get a mortgage without it.

  • Removal costs. One way of saving money is to do the move yourself, so persuade strong mates with vans to lend a hand.

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