Stage 2 of 7
Buying costs
Look beyond the deposit. Stamp duty, legal work, surveys, lender fees, and moving costs can change what is genuinely affordable.
What this stage means
This stage converts a property budget into a cash plan. The deposit is only one part of the money needed to buy.
Understanding upfront costs early helps you avoid using every pound of cash on the deposit and then struggling with legal fees, surveys, removals, or initial repairs.
Key numbers to understand
- Purchase price and whether the property is your first home, next home, or an additional property.
- Estimated stamp duty land tax, allowing for current UK rules and buyer status.
- Legal fees, survey costs, mortgage product fees, valuation fees, removals, and initial insurance.
- Cash left after completion for repairs, bills, and an emergency buffer.
Common mistakes
- Counting the same cash twice as both deposit and buying-cost money.
- Ignoring mortgage product fees because they can sometimes be added to the loan.
- Leaving no buffer for early repairs, furnishing, or the first higher-than-usual month of homeownership.
How to interpret the result
Use the total cash required as a minimum planning number, then add your own contingency for timing gaps and unknowns.
If buying costs leave too little spare cash, it may be better to reduce the purchase price or delay than to complete with no buffer.
Next step in the journey
With budget and upfront cash clearer, compare mortgage deal structures and total costs rather than focusing only on the lowest rate.
Continue to Mortgage choice