In addition to the deposit you choose to make, there are additional lump-sum costs associated with buying or selling a property. Below is a list of items, a brief description and an estimate of the amount you should be budgeting.

Buying a property

Stamp Duty

A government tax applicable to property purchases. Exemptions often apply up to certain limits but will vary according to policy changes. For an accurate understanding of your potential Stamp Duty liability please refer to this calculator.

Solicitors Fees

The charges levied by a solicitor at the end of your transaction to cover their time in dealing with the purchase of your property. Some Solicitors work on an hourly rate, but most charge on a flat-fee basis. It is worth checking out whether you will be charged abortive costs should your intended purchase not proceed to completion as this could make a difference to your final bill. Some Solicitors have a policy of not charging abortive costs, others can provide an insurance policy against them (usually about £50.00). Expect to pay no more than £600 (VAT inclusive) on Remortgage and £850 on House Purchase for a flat-fee charging Solicitor with a no-abortive fee policy.

Additional Disbursements

In addition to the solicitors costs you will also have the following disbursements.

Higher Lending Charge

A fee levied by the lender to insure themselves against the financial consequences of bad-debt should they have to repossess your house due to non-payment. Increasingly nowadays, lenders will pay this bill themselves should you be able to make a 10% deposit. If you have less than 10% the bill could be upwards of £1500. Some lenders will add this to the mortgage, others will not so it is quite an important issue. As your Financial Advisers we will make clear any such costs when we produce mortgage illustrations on your behalf.

Survey Fees

An up-front fee which will cover (as a minimum) the valuation of your intended purchase. There are three levels of survey ranging from the basic to in-depth. The cost will vary according to the value of your new home but typical prices would be as follows:

Which survey is best for you will depend on a number of factors including your budget and the age of the property you intend to purchase, we will be happy to offer advice and guidance on this issue.


If you would like to be professionally moved then you ought to budget for between £400 and £800 depending upon the level of service you require.

Don't forget to leave some money left over to help with the furnishing and redecorating of your new home!

Selling a Property

Solicitors Costs

The charges levied by a solicitor to cover their time in dealing with the sale of your property. Please refer to previous solicitors notes in the buying a property section above.

Estate Agents

A fee levied by Estate Agents at the end of the transaction for the work involved in selling your property.

When choosing an Estate Agent one should consider the following issues:

“Paul is a highly professional, outstanding Financial Advisor who helped us with several difficulties when applying for our mortgage. Paul was very knowledgeable about processes relevant to my unusual situation with regards to a difficult employment contract terms. Paul also supported us with an escalation of an issue and he did this with admirable enthusiasm - as if he was fighting his own case which was greatly appreciated. Overall a lovely person to work with & will definitely recommend Paul's services to all my friends and colleagues.

- Eliska Janotova - HR Advisor at Stibo Systems -

Where to Find Us

Premier Financial Services

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0118 9796687

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