The Real Cost of Buying Your First Home in the UK (2025)

Saving for a deposit is the obvious hurdle, but it's far from the only cost. Here's every penny you'll need to budget for when buying your first home.

The Deposit

Most lenders want 5-10% minimum. On a £250,000 property, that's £12,500-£25,000. A larger deposit (15-20%) gets you significantly better mortgage rates, saving thousands over the loan term.

Stamp Duty

First-time buyers pay no stamp duty on the first £425,000 of a property's value (on homes up to £625,000). Above £425,000, you pay 5% on the portion between £425,001 and £625,000. Use our stamp duty calculator to check your exact bill.

Solicitor/Conveyancer Fees

Expect to pay £1,000-£2,000 including VAT and disbursements (searches, Land Registry fees, bank transfer fees). Don't just go with the cheapest — a bad conveyancer can delay your purchase by months.

Survey

Your mortgage lender will do a basic valuation (sometimes free, sometimes £250-£500), but this is for their benefit, not yours. You should also get a Homebuyer's Report (£400-£700) or a Full Building Survey (£600-£1,500) for older or unusual properties.

Mortgage Fees

Arrangement fees range from £0 to £2,000 depending on the deal. Lower fees often mean higher interest rates, and vice versa. Broker fees are typically £300-£500 (some are free, paid by the lender). Use our mortgage calculator to see your monthly repayments.

Moving Costs and Immediate Expenses

Removal company (£500-£1,500), redirected mail (£66 for 6 months), new furniture and appliances (budget at least £2,000-£5,000), and immediate repairs or decorating. Budget a total moving fund of £3,000-£5,000 on top of everything else.

The Total Budget