The Cost of Moving House

If you're looking to buy a new home, the variety of costs and fees involved can be overwhelming, even if you've bought before. From valuation fees and surveyors, to stamp duty and removal companies, we've broken down the main costs associated with moving to a new house to help you work out how much you can expect to spend.

Read on for our complete breakdown of moving costs.

Valuation Fees

What are they?

When buying a property, your mortgage lender will carry out an inspection or a 'mortgage valuation'. This tells them the market value of the property you intend to buy, which may be different to the price you offered. Mortgage valuations are carried out so that the mortgage lender knows how much the property is worth, in the rare case they have to repossess it. Generally, this service costs between £300 - £400.

Average fee: £300 - £400

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House-Buyer Surveys

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What are they?

Surveys must be carried out on the house before you buy. These surveys identify any issues with the condition of the property and can save you money on repairs in the future. On average, house-buyer surveys cost between £200 for a very basic survey and £600+ for a full structural analysis. We would recommend asking your mortgage lender to recommend a surveyor.

Average fee: £200 - £600+

Legal Fees

Legal fees must be paid to your solicitor to cover all the legal processes involved in buying a new home. Services include conveyancing, transfer fees, and the checking of paper work and planning permission issues.

Searches

Your solicitor will carry out searches to identify any local, drainage or planning permission issues with the property you are buying. This costs between £250 - £450 but may save you money in the long run.

Conveyancing

Conveyancing is the transfer of a property from one person to another. This generally costs between £500 - £1,500.

Electronic Transfer Fee

When the mortgage money is transferred from the lender to the solicitor, you will be charged an electronic transfer fee. This is a relatively small fee in comparison, and costs between £40 - £50.

Average total fee: £850 - £1,500

Estate Agency Fees

What are they?

When selling your home, estate agents will charge you a fee for their services. Most estate agents will charge between 0.75-3%+VAT of your agreed selling price. At Tepilo, we charge a flat rate regardless of the price of your home. These fees range between £645 - £1295 and cover services such as a ‘for sale’ board, advertising on Rightmove, Zoopla and Prime Location, account management, and mortgage advice. The more expensive packages include professional photography, floorplans and premium listings. View our fees page for more details.

Fee with Tepilo: £645 - £1,295 depending on your preferred package

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Stamp Duty

What is it?

Stamp duty land tax is a charge on property transactions and is payable on all properties over £125,000. After a change in stamp duty regulations in 2017, first-time buyers are now exempt from paying stamp duty on the first £300,000 as long as their property price is £500,000 or less. However, for those who are not first-time buyers, the minimum you can expect to pay on a property worth over £125,000 is 2%. This percentage then goes up in bands depending on the value of your property.

First-Time Buyers

For houses worth up to £300,000 you will pay no stamp duty.
You will pay 5% on the remaining amount between £300,001 and £500,000.
If the house you’re buying is worth over £500,000, you will pay the standard rates (below).

Existing Home Owners

For houses worth up to £125,000 you will pay no stamp duty.
You will pay 2% on any amount between £125,001 and £250,000.
You will pay 5% on any amount between £250,001 and £925,000.
You will pay 10% on any amount between £925,001 and £1.5 million.
You will pay 12% on any amount over £1.5 million.

Average fee: £2,021 based on average UK house price of £226,071

Calculate the stamp duty on your next home with this handy stamp duty calculator.

Removal Costs

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What are they?

You will most likely want to hire a removals company to help you move your possessions from one house to another. Depending on the distance and size of van, removal companies charge between £250 - £1,500. We would advise shopping around for quotes and asking friends and family for recommendations. It is also important to ensure that the removal company you choose is a member of a registered body such as the BAR or NGRS.

Average fee: £250 - £1,500

Breakdown of the Costs of Moving House

Breakdown of the Costs of Moving House
Fee Average Price
Valuation Fees £350
House-Buyer Survey £400
Legal Fees £1,175
Estate Agency Fees (with Tepilo) £895
Stamp Duty £2,021
Removal Vans £875
Typical cost of moving home £5,716

First-Time Buyers

If you're looking to buy your first home, read our article The Hidden Costs of Buying Your First Home to find a full break-down of costs for first-time buyers.

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