If you’re planning to buy your new home but are unsure about the fees involved, you’re in the right place. Our guide explores the average costs of buying a house to help you budget, from mortgage and conveyancing expenses to removal charges.
H2: The average fees for buying a house
Below is a breakdown of the average fees for buying a house:
| Item |
Average cost |
| Mortgage arrangement |
£0 to £2,000 |
| Mortgage booking |
£99 to £250 |
| Property valuation |
£150 to £1,500 |
| Mortgage broker |
£0 to £500 |
| Surveyor |
£200 to £600 |
| Conveyancing |
£850 to £1,500 |
| Land Registry |
£200 to £300 |
| Removal |
£400 to £1,000 |
1. Mortgage arrangement fee
You’ll pay this fee to your mortgage provider. You can either:
• Pay upfront – Paying upfront means you can get the payment out of the way, but if anything goes wrong with your home purchase, you may lose the money.
• Include it as part of your mortgage – This may delay the payment, but you’ll pay interest on it for the entire loan term.
2. Mortgage booking fee
Despite being rare, some lenders may charge a mortgage booking fee to secure the mortgage at a fixed rate. This is also known as an ‘application’ or ‘reservation’ fee.
If you need to pay it, you’ll be charged as soon as you apply for a mortgage.
3. Property valuation fee
Your mortgage lender will charge this fee to ensure that the amount they’re lending you reflects the true value of the property. This is not a full structural valuation of your property, so it may not identify potential issues.
4. Mortgage broker fee
If you’re a first-time buyer, working with a mortgage broker can help speed up the process. They are specialists with in-depth knowledge of the market and will help you find the best deal for your circumstances.
Almost all mortgage brokers receive a commission from lenders, so most will provide fee-free advice. However, some may charge a fixed rate or a percentage of the amount you’re borrowing.
5. Surveyor’s fee
It’s a good idea to survey the property you want to buy to avoid unpleasant surprises further down the line. A survey will reveal any structural issues, problems with plumbing or signs of damp. Your lender can conduct the survey for you and add it to the cost of your mortgage, or you can find a surveyor by visiting the Royal Institute of Chartered Surveyors (RICS) website.
The price depends on the type of survey. There are three types:
• Condition Survey (Level 1). A Level 1 Survey gives a general overview of the property’s conditions. It costs between £300 and £900.
• Homebuyer Survey (Level 2). This highlights issues like damp and subsidence and identifies anything that doesn’t meet the building regulations. It costs between £400 and £1,000.
• Building Survey (Level 3). This provides an in-depth inspection of the property's structure and conditions. It costs between £630 and £1,500.
Explore the different types of surveys in our handy guide.
6. Conveyancing fee
This is the fee you’ll pay to your solicitor or
conveyancer. It includes:
• Legal fees – These cover your solicitor's time
• Disbursements – Any costs or expenses they incur during the process
7. Land Registry
When you buy a home, HM Land Registry will charge a fee to register you as the legal owner. The amount depends on the price of your new home. Your solicitor or conveyancer will usually arrange this payment for you and add it to your bill.
You can pay the fee online, as it’s significantly cheaper than paying by post.
8. Removal
Removal costs depend on the size of your current property and the location of your new one. Below are the average removal costs if you’re moving within 15 miles and have packed everything up yourself.
| Number of bedrooms |
Removal costs |
| 1 |
£420-£650 |
| 2 |
£530-£750 |
| 3 |
£800-£960 |
| 4 |
£920-1,000 |
9. Deposit
The smallest deposit you’ll need to buy a house is 5%, but most lenders will require at least 10%. As a general rule, the bigger your deposit, the more competitive the mortgage deal and interest rates you can access.
Call our Sales Advisers today to learn more.
