The cost of moving house can add up, so it pays to be prepared. We’re here to help you get your head around the different fees involved, and how much you can expect to pay.
Cost of moving house in the UK
Here are some of the costs you can expect to pay when buying a house and moving:
- Legal fees
- Valuation & mortgage arrangement costs
- Survey cost
- Estate agent fees (if you have a house to sell)
- Stamp duty
- Deposit
- Insurance
- Removal company
- Cleaning costs
- Mail redirection
- Settling in
Average cost of moving house – the break down
Of course, every move is different and individual circumstances change. However, it’s helpful to have some ballpark figures to give you an idea of where you stand.
Legal fees
- Cost: Between £800-£2,000
Conveyancing solicitors are vital whether you’re buying or selling (or both). They will take on a range of legal work during the conveyancing process, including the deposit transfer, being the point of contact for your mortgage lender and exchanging contracts.
Valuation & mortgage costs
- Valuation fee: £150-£1,500 (depends on property value)
- Booking fee: Around £100-£250
- Arrangement fee: Up to £2,000 (can be free)
- Mortgage broker fee: Around £500 (if you use one)
- Or they might charge commission – depends on mortgage value
- Mortgage account fee: £200-£300
Remember, a mortgage valuation is about assessing the risk of the loan; it’s not the same as a property survey.
Need help finding the best deal for you? Get a quote from a mortgage adviser below for free, without the fuss or headache.
Survey cost
The price you’ll pay depends on the type of property survey you get. Estimated costs are:
- RICS condition report: £250+
- RICS homebuyer report – survey only: £350+
- RICS homebuyer report – survey & valuation: £400+
- Building survey – £500-£600
- New build snagging survey – £300-£600
Each of these has varying degrees of depth and will look at different things. For example, it’s recommended you get a building survey (also known as a full structural survey) if you’re buying a particularly old home.
A survey can save you money later down the line by revealing any hidden issues, or help you negotiate a house price lower.
Estate agent fees
If selling your property, your estate agent will charge a fee, usually between 1%-3% of the sale price, or a flat fee. VAT may or may not be included – it’s a good idea to find out when you get a quote.
Optional: you could also choose to use a buying agent to fight your corner and help you get the best price for a property. These either work on a commission basis or using a flat rate.
Stamp duty
How much you’ll pay in stamp duty will depend on the purchase price of the property.
- 0% = up to £125,000
- 2% = £125,000-£250,000
- 5% stamp duty on next £250,001 – £925,000
- 10% stamp duty on next £925,001 – £1.5 million
Use our stamp duty calculator to work out roughly how much you’ll be paying.
First-time buyers don’t pay anything on the first £300,000. Currently, there’s a stamp duty holiday ending in June 2021, with a taper to September.
Deposit
- Cost: Between 5-20% of property price
For a greater variety of mortgage deals and more manageable monthly repayments, it’s recommended you save as high a deposit as you can. However, that can be easier said than done.
For example, the average property price in the UK is £269,150. A 20% deposit = £53,830.
Insurance
- Home insurance: £130-£200
It’s recommended you take out buildings insurance from the moment you exchange contracts, as you become legally responsible for the property. You can often find good deals on contents and building insurance combined.
Removals
- Cost: £500-£1,000 (moving costs depend on distance and the amount of possessions)
It’s recommended you use a professional removal company, otherwise your possessions may not be covered by your insurance when in transit.
Cleaning costs
- Cost: £50-£150
If you’re currently renting, check your tenancy agreement to see if your landlord requires a professional clean when you move out.
Mail redirection
- Cost: £33.99+
Make sure you redirect your mail once you’ve moved home, which can be easily done online. It’s based on surnames, so if you’re moving with someone with a different one, they’ll need to redirect theirs separately.
Settling in
Even once you have the keys in your hand, the spending likely won’t stop just yet.
For example, you may need new furniture, or want to redecorate. Depending on the size of the renovation project, it’s recommended you find a tradesman for the job – some things are best left to the professionals!
Money-saving tip: switch your energy supplier. You can save hundreds on your utility bills by finding a better deal when you move in.
