In this guide
From stamp duty to redirecting post, moving home often comes with several different costs. So, we list them below to help you understand how much it could cost.
Buying a house entails more than just the asking price. Home movers, those selling an existing property and moving into a new one, often need to contend with costs such as property surveys and energy performance certificates.
Meanwhile, first time buyers can sometimes expect conveyancing costs and valuation fees on top of their deposit.
So, below we list the average price for moving home and some of the charges you may incur. This includes:
Read more: The best mortgage rates today
What is the average cost of moving home?
According to Compare My Move, a comparison site, the average cost of moving house in 2024 is £12,187.
This doesn’t include any mortgage related expenses, such as a deposit for the first time buyer, but rather takes into account estate agent fees, stamp duty and other related costs.
How much is stamp duty?
This is the tax you need to pay the Government when you purchase a property over £250,000 in England and Northern Ireland. For first-time buyers, this figure is £425,000.
If first-time buyers are purchasing a property greater than £625,000, they’ll pay the standard stamp duty rates as everyone else.
Non-first time buyers will pay 5% on the value of a property between £250,001 and £925,000, 10% on the value between £925,001 and £1.5 million, and 12% on the portion above £1.5 million.
To find out how much you’ll need to pay, check out the government’s stamp duty calculator.
Stamp duty is payable upon completion. (Note that Scotland and Wales have different rules).
Example cost: if you purchase a property costing £400,000 and are not a first-time buyer, you would pay £10,000.
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What are typical mortgage broker fees?
When choosing a mortgage, it might be wise to get help from an independent mortgage broker.
A broker or adviser can help you navigate your way through the maze of products and deals. This can be especially useful if you’re a first time buyer who is new to the process.
Brokers get their payment from the lender when you complete your mortgage.
While some don’t charge borrowers anything at all, others will charge a fee on top. This will usually be paid when your mortgage offer is finalised.
Typical cost: Around £500
Mortgage fee
Also known as an “arrangement fee”, this is the cost levied by the lender for setting up the home loan.
You will usually be given the option of paying this upfront or adding it to the cost of the mortgage.
The downside of adding it is that you’ll pay interest on this amount as well, so this will end up costing you more.
Note that while a fee-free mortgage may seem very appealing, these deals will often come with higher rates. You need to do the maths.
Typical cost: £1,000 and £2,000
To find out the mortgage deals currently available and the interest rates you might have to pay, check out Times Money Mentor’s free mortgage comparison tool* below.
Find mortgage deals with our best buy tool
This is how the tool works:
- You can search and compare mortgage deals
- It only takes a couple of minutes and no personal details are required to search
- Once you’ve got your result, you can speak to a mortgage broker if you need advice
Booking fee
In addition to the arrangement fee, some lenders also charge a “booking fee” when you apply for a mortgage.
Sometimes called an “application fee” or “reservation fee”, this will secure your fixed-rate, tracker or discount deal.
As with the arrangement fee, this can sometimes be added to the mortgage.
Typical cost: £100 to £250
See here for our round-up of the cheapest mortgage rates right now.
Homebuyer survey
As a buyer, it’s important to get an idea of the condition of the property you are purchasing. You may want to check it isn’t hiding any unwelcome surprises, such as damp or subsidence.
You can do this with a survey. The most basic is the simple valuation survey, while the most costly is the full structural option.
The middle ground is a homebuyer survey. You will typically pay for the survey at the time it is carried out.
Typical cost: £450-£500 for a homebuyer survey
Valuation fee
This is a cost charged by the mortgage lender to ensure the property is worth roughly the amount you have offered to pay for it.
Banks and building societies do this for their own security, so that if you fail to keep up with your monthly payments, they can sell it to recoup their costs.
While some lenders will charge a fee for the valuation, others will waive it.
Typical cost: £200-£700
Read more: Free house valuations explained
Key extra costs when buying a home:
| Mortgage broker fee | Up to £500 |
| Mortgage arrangement fee (if charged) | £1,000 – £2,000 |
| Mortgage booking fee | £100-£250 |
| Homebuyer survey | £500 |
| Mortgage valuation survey (if payable) | £200-£700 |
| Solicitors’ fees | £500-£1,500 |
| Removal costs | Up to £1,500 |
| Home insurance | £200 a year |
| Stamp duty | 0%-12% |
What are typical solicitor fees for buying a house?
When buying a home you will normally need to appoint a solicitor or conveyancer and factor this into your costs.
Before making your choice, be sure to do your research and get at least three different quotes. The solicitors’ – or conveyancers’ fee – should cover all the legal elements of house-buying.
But on top of this, you need to watch out for “disbursements”. These are extra costs your conveyancer needs to make as part of the home buying process.
Conveyancing fees can cover things such as:
- Money transfer fees – moving cash between lenders, solicitors, buyers and sellers
- Land Registry fees – for registering a property with a new owner
- The cost of searches to flag up any local issues, such as flooding
You may have to pay an initial sum to your solicitor upfront, with the balance paid at completion.
Typical cost: £500 and £1,500
UK house prices have surged in the past year. If you’re wondering whether now is a good time to buy a house, watch our video below.
Removal costs
Removal costs will depend on a number of factors including what you have to move, how far you’re moving to and how much help you need.
What you’re prepared to pay determines how much help you get moving – from a full service that will pack up your things, load them, move them and then reassemble them at your new place all the way down to borrowing a friend’s van and asking for spare boxes at your local supermarket.
If you choose a professional removal firm rather than renting a van and doing it yourself, these are some of the cost variables to consider:
1. Property size
Size matters. To move the contents of an average three-bedroom house 50 miles away, for example, you can expect to pay around £1,200, according to Compare My Move. That includes:
- Loading and unloading – £806
- Packing services and materials – £250
- Dismantling and reassembling – £125
For a one-bedroom property, moving the same 50 mile distance, you can expect to pay an average of £600 in total (or £356 without packing).
2. Location
Where you live is likely to make a big difference to the price that you pay for removal firms.
London is the most expensive area, where the average removal costs are £1,547. Compare this to the cheapest location, Cardiff, where you can expect to pay around £730.
3. Distance
The further you have to travel from home to home, the more you can expect to pay. According to Compare My Move, based on £25 an hour charges and £0.50 a mile:
- 50 miles – £45.83
- 100 miles – £91.67
- 200 miles – £183.33
- 300 miles – £275
Some removal firms may charge more per mile, so check first.
4. Seasonal changes
The removals industry is very seasonal, so prices are also associated with supply and demand.
“Most people want to move during the summer months and Friday is the most popular day to book a removal company. If there is high demand then prices will rise during a busy season,” explained Lyndsey Wallank from removals company Pickfords.
“School holidays are a factor. The busiest times of the year are July and August with the last Friday in July typically being the busiest moving day for the year.”
Home insurance
In most cases, your lender will require you to take out buildings insurance as a condition of the mortgage. This covers the cost of repairing damage to the structure of your property.
Your lender will typically state that you need buildings insurance in place from the date of exchange.
Note, though, that there’s usually no obligation to take this out from the same bank or building society. The key is to shop around to ensure you’re getting a good deal.
While contents insurance is not compulsory in order to get a mortgage, it may be well worth having for the peace of mind it offers.
Read our home insurance guide for more.
To find out more about home insurance providers, check out our guide to the best home insurance providers.
Typical cost: around £200 a year
Are there hidden costs to buying a house?
It’s essential you go into the home-buying process with your eyes wide open, and with the necessary cash set aside to cover all the extra costs listed above.
Not only this, but it might be wise to put some money aside for maintenance costs. You might need to call a plumber to fix a clogged pipe, or a handyman to repair a broken gutter.
All of these services cost money, and it may be useful setting up an emergency fund in case of these events.
At the same time, you also need to remember to factor in further costs you could face, such as:
- Storage
- Cleaning
- Post redirection
- New items of furniture
- Redecorating costs
- Any potential home improvements
And then, of course, there’s all the other ongoing utility bills and other regular outgoings to contend with.
By getting your head around the various different costs involved, you can ensure you don’t get caught out by unexpected expenses.
The key is being realistic about what you can afford, and taking the time to compare quotes to get the best deals you can find.
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