The cost of buying a house

Whether you’re a first-time buyer or moving house, it can be an expensive process. We can help you understand what costs you need to consider if you’re thinking about buying a house.

Costs before you've moved in

There is more for you to consider with a mortgage than just preparing for the monthly mortgage repayments.

Deposit

The biggest upfront cost involved in buying your first home is a deposit.

What does it cost: minimum of 5% of the property value.

Home valuation

Your mortgage provider will check the value of your home. This is to make sure it matches your loan terms.

What does it cost: £100.

Mortgage broker

If you use a mortgage broker to arrange your purchase, they may charge a broker fee. This fee varies depending on the broker.

You can avoid paying a broker fee if you apply to the lender directly.

Product fee

This covers the price of setting up your mortgage. You can pay this upfront, or you could add it to your mortgage term.

What does it cost: £0 to £1500.

Legal costs

You’ll need a conveyancer to manage the legal work for buying your first home.
 

Survey fees

A property survey will see if there are any problems with the property you want to buy.

The price for the survey will depend on how detailed your survey is. Your conveyancer will tell you which surveys you need.

Conveyancer fees

Conveyancers handle the legal processes for buying your first home.

It can typically cost between £1300 to £1800.

Land registry

Your conveyancer will register you as the owner of your home with the Land Registry.

The registration will cost between £150 to £460.

Stamp duty

Stamp duty is a tax which applies to residential properties valued over £125,000 in England and Northern Ireland.

If you’re a first-time buyer, you won’t have to pay this tax unless the property is valued over £300,000. Find out more about stamp duty for first-time buyers.

You can find out more about the stamp duty thresholds on the government website or use their Stamp Duty Land Tax calculator to work out what you might have to pay.

In Scotland, first-time buyers don't pay Land and Buildings Transaction Tax (LBTT) on the first £175,000 of their home.

In Wales, there isn't any specific first-time buyer relief, but you don't pay Land Transaction Tax on the first £225,000.

Important information about these costs

All figures are based on average costs for first-time buyers and are intended as a guide only. The costs of buying a home will vary depending on your individual circumstances. This information is up to date as of June 2026.

Get quotes for conveyancers local to you

We can search over 200 conveyancers and local solicitors to find you the best quote. Find more detailed information about our own conveyancing service by visiting the Lloyds Conveyancing Service.

Find a conveyancer

Running costs

Once you’ve moved into your new home, there will still be on-going costs to consider.

Home and bills

Council tax

You won’t be registered automatically when you move in so don’t forget to register with your local authority. The cost of your council tax will vary depending on the local authority and the band you fall under.

Utility bills

If you’ve not paid these before, prepare to budget for your utilities. You could ask the seller for a rough cost of what you could expect to pay.

Maintenance fees

Some properties have a management company that charge for maintaining communal areas. This is typical with leasehold properties. Your seller will be able to tell you what this is.

Insurance

Buildings insurance

Protects your home’s structure and outbuildings too.

It covers any permanent fixtures and fittings. Such as plumbing, wiring, kitchen and bathroom fittings, if damaged by fire, theft or storms.

Buildings insurance

Contents insurance

Protect the things you own in your home.

In the event of fire, theft or a storm, contents insurance could cover things like household goods, furnishings and clothing.

Contents insurance

Life insurance

Protect what matters most and get peace of mind.

Cover can act like a safety net. This could help your loved ones cope financially when you can’t be there.

Life insurance

Moving costs

Even if you’re planning to move yourself, you may need to hire a van or store furniture.

You could also use a removal company and the costs for this could depend on how much stuff you have and how far you’re moving.

Learn more about the costs of moving home

Costs when leaving a mortgage deal

Some mortgages include fees at the end of the deal.

  • Mortgage exit fees
    When your mortgage term ends and/or it’s been repaid in full, you might have to pay an exit fee to close the account. This is typically around £200.
  • Early repayment charge (ERC)
    If you repay your mortgage early, you may have to pay an early repayment charge. This is usually calculated as a % of the mortgage loan or outstanding balance, often between 1% and 5%.
  • Porting
    If you use the same mortgage lender for the mortgage on your new home, you may be able to 'port' your mortgage. Sometimes you have to pay an admin fee to do this.

Ready to apply?

Once you are ready to start viewing properties, we can help you to apply for a mortgage agreement in principle (AIP). Find out how much you could borrow with Lloyds.

You could lose your home if you don’t keep up your mortgage repayments

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