Understanding costs of buying a new home

If you’re working out your home buying budget, it’s useful to know what you’re going to be paying for. Here’s a quick guide to the main costs.


It wasn’t that long ago most mortgage lenders would need you to pay at least a 10% deposit. Thankfully Help to Buy has changed all that. Now with the Government backed home buying scheme you can move into your dream Keepmoat home with just a 5% deposit. It’s a great way to make home buying more affordable. 

Stamp Duty

If your home is under £300,000 and you are a first time buyer, you won’t pay any Stamp Duty at all in England. 

Valuation fee

Even though all our homes offer fantastic value for money, your mortgage lender will need to value them for themselves before they lend you any money. Some will offer free valuations, others will charge. Expect to pay around the £150 - £200 mark. 

Solicitor’s fees

You’ll need a solicitor to carry out the legal work when buying and selling your home. This is also called conveyancing. They’ll handle contracts, give legal advice, carry out local council searches, deal with the Land Registry and transfer the funds to pay for your property. Costs can vary depending on whether you’re buying and selling, or just buying. Budget between £500 - £1,500 and don’t forget to add VAT at 20%.

Electronic transfer fee

Your lender will probably charge a fee for transferring the mortgage money from the lender to the solicitor. This usually costs around £40 to £50. 

Estate agents fees

If you’ve got a home to sell, there will be estate agents fees to pay. Usually 1% to 3% of the sale price plus VAT at 20%. 

Don’t forget, we can help make selling your home quick and save you a fortune too. With our Easymove scheme you can leave all the stressful home selling to us. We’ll take care of everything from arranging valuations and negotiating the sale to recommending solicitors and mortgage advisors. And when your house is sold, we’ll pay the estate agents fee in full. So that’s one less cost to think about.


Don’t forget to budget for home insurance. Having adequate cover is one of the conditions your mortgage lender will set out before lending you the money. But this doesn’t mean you have to buy insurance from them. Shop around and often you can get a better deal when you combine your building and content insurance into one policy.

Removal costs

How much or how little you spend on removals is up to you. A professional removals service definitely makes moving in day run smoother, but can cost anything from £300 to £2000. So it’s worth shopping around and comparing what you get for your money.

Hiring a van and doing it yourself is the cheaper option if you don’t mind a bit of hard work. Remember to recruit family and friends to help if you can.