Saving for a deposit is the big one, but it’s not the only cost involved in getting the keys to your first place. Here’s a breakdown of the most common expenses to expect along the way.


Legal fees (conveyancing)
You’ll need a solicitor or licensed conveyancer to manage the legal process of buying your home — including contracts, property searches and liaising with the seller’s legal team.
Typical cost: £1,000 - £2,500

Land Registry fee
Once you’ve bought the home, it needs to be registered in your name with HM Land Registry.
Typical cost: £90–£140 (varies with property value)

Stamp Duty (if applicable)
First-time buyers benefit from discounted rates — often paying no Stamp Duty on homes under £425,000 in England. For anything above that, the tax increases in bands.
Tip: Use an online calculator to work out exactly what you’ll owe.

Survey costs
A survey helps uncover any potential issues with the property — from damp and roof problems to structural faults. There are different levels, from basic valuations to full structural surveys.
Typical cost: £400–£1,000 (dependent on the age and value of the property).

Mortgage fees
Lenders may charge a fee to set up your mortgage. Sometimes this can be added to your loan, but doing so means you’ll pay interest on it.
Typical cost: From £1,000 (check with your mortgage lender to confirm the exact amount)

Property valuation
Your lender may charge to carry out a valuation to make sure the property is worth the amount you're borrowing.
Typical cost: £160–£600

Mortgage broker fees
Many brokers are free to use, as they’re paid commission by the lender. But some charge a fee upfront.
Possible cost: Up to £500

Bank transfer fees
On completion day, large sums of money are moved quickly — and same-day CHAPS payments usually come with a fee.
Typical cost: Around £30

Removals
Costs vary depending on how much you’re moving and how far you’re going. Doing it yourself can save money, but professional movers take the stress out.
Average cost: £1,181 (3-bed, 50 miles)

Buildings insurance
Lenders often require you to have buildings insurance in place from the moment you exchange contracts.
Average annual cost: £110

Reservation fee (new builds only)
If you're buying a new build, the developer might ask for a reservation fee to secure the property while the paperwork goes through.
Typical cost: Varies – often £500 - £1,000


Need help navigating it all?
At Paul Carr Estate Agents, we support first-time buyers at every step, from recommending trusted mortgage advisors and solicitors to making sure there are no nasty surprises along the way.

Get in touch with your local Paul Carr branch for friendly, expert guidance.