The Cost of Moving.
Moving Costs - Legal Fees
These legal costs can often be substantial, increase inline with property value and will vary depending on the property location.
The table below will help you identify some of the most common legal costs when moving home. The figures are based on a property valued at £245000 with a postcode of EX15. The stamp duty cost assumes the purchase completes before April 1st 2016. For additional property the SDLT cost will be higher from April 2016.
For current SDLT calculations please use our instant Stamp Duty Calculator.
|Land Registry Fees||£220|
|House Search Fees||£130|
|Stamp Duty Costs||£2400|
|Total Legal Costs||£3273|
Other Moving Costs
Apart from the legal fees, other costs will depend on your personal circumstances and preferences.
If you have a house to sell, using a conventional estate agent can cost around 2 percent of the selling price. At 2 percent a home sold for £250,000 would cost around £5000 in estate agent fees. Estate agents fees can vary considerably so it's worth shopping around and negotiating a deal.
Alternative online agents are now available if you're prepared to conduct the viewings yourself. Online agent fees can be significantly lower than highstreet agents. Online agents normally charge a flat rate starting at around £600.
If your new home is an older period type property or unconventional in nature you may wish to have a "full structural survey". This type of survey can cost £800 or more and normally includes an extremely detailed property report. A cheaper "home buyers survey" comes in at around £400 and is more suited to newer conventional homes.
If you need to arrange a mortgage typical lenders fees can be around 1% of the mortgage, although these fees can sometimes be added to the loan. If you use a mortgage broker to help you find a mortgage, their fees can be upwards of £250. Mortgage broker fees could be a worthwhile investment, a broker could save you a substantial amount by finding the best rate for you whilst comparing associated arrangement fees.
If you decide you need the help of a removals company their costs can be upwards of £1000. A "man and a van" service can offer a much cheaper option with typical costs starting at around £250.
You may also need to budget for new appliances, furniture and carpets which can significantly increase the overall cost of the move.