First-time buyer costs checklist (UK): deposit, SDLT, fees and moving costs

Who this checklist is for

This guide is for UK first-time buyers who want a practical, “don’t-miss-anything” list of the costs that tend to show up between viewing a property and getting the keys.

It is not financial advice. It’s a planning tool to help you ask better questions, compare quotes, and avoid budget surprises.

Key terms (quick definitions)

• LTV
• AIP
• Conveyancing
• Leasehold
• SDLT

The short version (the core idea)

Most first-time buyers budget for the deposit and the mortgage payment, but the total cash you need usually includes:

• one-off buying costs (like conveyancing and surveys)
• mortgage fees (which can be upfront or added to the loan)
• “transaction” costs that can apply depending on the purchase (such as stamp duty in England and Northern Ireland)
• moving, setup and early running costs (which often land at the same time as completion)

If you treat your purchase as a small project with a cost plan, it becomes much easier to stay in control.

The full checklist (copy/paste, 20+ items)

Use this as a master checklist and tick items off as you get quotes and dates.

Money + funding

• Deposit amount (cash)
• Evidence of deposit source (savings statements, gift letter, etc.)
• Mortgage product fee (upfront vs added)
• Broker fee (if any)
• Moving buffer (cash kept aside)

Legal + admin

• Solicitor legal fee quote
• Searches / disbursements estimate
• ID checks / AML checks
• Land Registry fees estimate
• Bank transfer / admin fees

Property checks

• Lender valuation fee (if charged)
• Survey booked (homebuyer/building as appropriate)
• Leasehold pack costs (if buying leasehold)

Transaction taxes (where relevant)

• SDLT estimate (England/NI)
• Confirm whether reliefs/surcharges apply (conveyancer)

Completion + moving

• Removals / van hire
• Storage (if needed)
• Key release / completion day plan

First-month living costs

• Buildings insurance (timing per purchase type)
• Contents insurance (optional)
• Initial utilities setup / broadband
• Immediate repairs / safety updates

Ongoing monthly costs (to include in your affordability thinking)

• Mortgage payment (stress-tested scenario)
• Council tax
• Utilities
• Service charge / ground rent (if applicable)

Step-by-step: what to budget for, and when it tends to land

Step 1: Upfront cash you need before you even have an offer accepted

These are the costs that can arrive early and are easy to underestimate.

1) Mortgage deposit (your biggest upfront cash item)

Your deposit is the money you contribute to the purchase price. It reduces the mortgage you need and affects your loan-to-value (LTV).

• Budgeting tip: build two scenarios: a “minimum deposit” option and a “comfortable deposit” option, then compare what it does to your LTV and likely rate range.
• Where Abodewise helps: use the House Deposit Calculator to see deposit amount, loan required and LTV.

2) Initial affordability checks (not a fee, but a constraint)

Before you spend money on surveys or legal work, you need confidence the purchase is realistically mortgageable for you.

• Use Mortgage affordability to get a simplified range.
• Then sanity-check monthly payments using Mortgage repayment (amount borrowed → monthly payment).

Step 2: Costs between offer accepted and exchange

This is the phase where professional services start, and where timelines vary.

3) Conveyancing / solicitor fees

Conveyancing is the legal process of transferring ownership. Your quote may include:

• solicitor’s legal fee
• searches
• Land Registry fees
• bank transfer / admin fees

Budgeting tip: when comparing quotes, ask for a breakdown of “legal fee” vs “disbursements” so you know what’s optional, variable, or likely to change.

4) Survey / valuation-related costs

Depending on your lender and your risk tolerance, you may pay for:

• a lender valuation (sometimes included, sometimes charged)
• a homebuyer report or building survey (often separate from the lender valuation)

Budgeting tip: the cheapest survey choice is not always the cheapest outcome. If a survey helps you renegotiate or avoid an expensive issue, it can pay for itself.

5) Mortgage product fees and broker fees (if applicable)

Mortgages sometimes come with product fees, which can be:

• paid upfront, or
• added to the mortgage balance (which means you pay interest on them)

Some buyers also pay broker fees. Whether they are worth it depends on your case complexity and time saved.

Budgeting tip: treat fees like an “effective rate” problem. A slightly higher interest rate with low fees can be cheaper than a low rate with high fees, depending on how long you keep the deal.

Step 3: Costs at completion (the “big day” cash requirement)

Completion is where many costs land at once.

6) Stamp duty / transaction tax (depends on where you buy)

The UK uses different property transaction taxes by nation. GOV.UK notes that in England and Northern Ireland you may need to pay Stamp Duty Land Tax (SDLT) depending on the price and circumstances.

• Where Abodewise helps: use the Residential stamp duty calculator to estimate SDLT for England and Northern Ireland, including first-time buyer relief (where eligible) and additional-property scenarios.
• Important: Scotland and Wales use different taxes (LBTT and LTT) with different thresholds and rules.

7) Deposit top-up and completion monies

Even if you’ve paid a reservation fee or initial deposit, you typically still need to transfer:

• the remaining deposit amount (if not already paid), and
• the funds your solicitor requests to complete (which can include fees and taxes)

This is where “cash required to complete” often differs from what buyers expect.

8) Moving costs and setup costs

Common completion-week costs:

• removals / van hire
• storage (if there’s a gap between properties)
• initial furniture / white goods
• connection fees or setup costs (internet, utilities)

Budgeting tip: set a “moving buffer” so you don’t have to put essentials on expensive credit.

Step 4: First 30–90 days after moving in (often forgotten)

These aren’t strictly “buying costs”, but they matter for stress-testing affordability.

9) Insurance (and the timing matters)

Buildings insurance may be required from exchange (or completion) depending on the purchase type and lender requirements. Contents insurance is optional but often sensible.

10) Immediate repairs, maintenance and “new home” issues

Even with surveys, some properties need:

• small urgent repairs
• safety updates
• initial decoration

This is why a post-completion buffer helps.

A practical budgeting template (copy/paste)

Use this as a starting point. Replace estimates with quotes as you go.

• Deposit: £______
• Stamp duty / transaction tax (if applicable): £______
• Solicitor legal fee: £______
• Solicitor disbursements (searches, Land Registry, etc.): £______
• Survey / report: £______
• Mortgage product fee (upfront or added): £______
• Broker fee (if any): £______
• Valuation fee (if any): £______
• Moving costs: £______
• Initial furniture / setup: £______
• Insurance: £______
• Buffer (recommendation: 1–2% of purchase price, if possible): £______

What this template does not cover

This checklist is intentionally general. It does not cover every scenario, such as:

• specialist mortgage products or complex income types
• shared ownership-specific fees and staircasing costs
• Scotland/Wales transaction tax rules
• leasehold edge cases (ground rent, major works, unusual service charge structures)

If your case is unusual, treat this as a base plan and verify the details with the relevant professionals.

Worked examples (so you can sanity-check your plan)

Example A: £300,000 purchase with 10% deposit (England/NI)

• Deposit (10%): £30,000
• Mortgage: £270,000
• SDLT: depends on first-time buyer eligibility and the rules in force — estimate with the SDLT calculator
• Fees + survey + moving: use quotes, but many buyers find this can be several thousand pounds

The point of the example is not the exact fee number; it’s to show how quickly your “cash required” becomes more than the deposit alone.

Example B: £450,000 first home (first-time buyer relief may or may not apply)

GOV.UK notes that first-time buyer relief rules can depend on the price and eligibility. Use the calculator to model your exact scenario and confirm with your conveyancer.

Example C: A more “complete” first-time buyer budget snapshot

This example is intentionally rounded. The goal is to show how the non-deposit items add up.

Assume:

• Purchase price: £350,000
• Deposit: 10% = £35,000
• Mortgage: £315,000

Then add a simple buying-costs bundle:

• Solicitor legal fee: £1,200
• Searches / disbursements: £400
• Survey: £600
• Mortgage product fee: £999
• Valuation fee: £0–£300 (varies)
• Moving costs: £600–£1,500 (varies)

That’s already several thousand pounds before any transaction tax, furniture, or post-completion repairs.

If you plan with a buffer, this stops being scary. If you plan with “deposit only”, it becomes a surprise.

Common mistakes (and how to avoid them)

• Only budgeting for deposit + mortgage payment: add a buying-costs line item and a buffer.
• Assuming all fees are fixed: get written quotes and ask what can change.
• Ignoring timing: some costs land early (surveys), some land at completion (taxes), some land right after moving (setup).
• Comparing mortgage deals by rate only: compare rate + fees + expected time you’ll keep the deal.
• Underestimating moving and “first week” costs: set a realistic moving budget.
• Treating calculator outputs as legal/tax advice: use them to plan and compare, then confirm with professionals.

A deeper cost-by-cost walkthrough (so you can plug in real numbers)

This section expands the checklist into a practical budgeting model you can refine as you collect quotes.

Deposit: where it comes from (and what lenders may ask)

Deposits are not just “how much cash you have”. In practice lenders and solicitors often want to understand the source of funds, especially for:

• gifts from family
• large recent transfers
• proceeds from selling assets

Planning tip: if part of your deposit is a gift, ask your broker/solicitor what evidence is usually required so you’re not chasing paperwork late in the process.

Conveyancing: what your quote should make clear

At a minimum, you want clarity on:

• the solicitor’s core legal fee
• searches (and whether the quote assumes a typical set)
• Land Registry fees
• bank transfer fees
• ID checks / anti-money-laundering checks

If you’re buying leasehold, the legal work can be more involved (because the lease, service charges, and management pack need extra checks).

Surveys: what you are paying for, conceptually

Think of the survey as an information purchase. You are paying to reduce uncertainty.

Even when a lender valuation exists, it is typically not the same thing as a condition survey for you. If you plan to renegotiate based on issues found, having a better report can give you leverage.

Mortgage fees: why “add fee to loan” changes the real cost

If a product fee is added to the mortgage balance, you pay interest on it for as long as it stays in the balance.

Practical approach:

• Scenario A: fee paid upfront
• Scenario B: fee added to loan

If Scenario B is meaningfully more expensive over time, consider whether you would rather hold more cash or reduce long-run costs. There’s no universal answer; it depends on your cash position and risk tolerance.

Stamp duty / transaction tax: what to do if you’re not sure

If you’re buying in England or Northern Ireland, GOV.UK’s buying-a-home tax page is a quick starting point for whether SDLT is likely to apply, but SDLT depends on your circumstances and the rules in force.

Use the Abodewise calculator output as a budget estimate, then treat your conveyancer’s calculation as the final figure for completion planning.

Moving and setup costs: the “boring” costs that blow budgets

These are easy to dismiss until you’re days from completion:

• removals / van hire
• parking permits for moving vans
• storage if dates don’t align
• small essentials (curtains, bulbs, minor tools)
• internet setup and overlap between properties

A simple rule: if you’re doing a tight budget, decide in advance what you’ll buy immediately and what can wait 2–3 months.

Timeline thinking: align your budget with the purchase stages

First-time buyer budgets break when you have the right total number but the wrong timing.

Here’s a typical “timing map”:

• Before offer: affordability planning, initial deposit planning, viewing costs
• Offer accepted: solicitor instructed, survey booked, mortgage application started
• Before exchange: survey/report costs paid, legal work progresses, potential renegotiation
• Exchange: you become committed (timing depends on chain)
• Completion: large cash requirement lands (deposit remainder + fees + taxes)
• First 30 days: setup, insurance, urgent repairs

If you’re short on cash, the question is often not “can I afford this purchase?” but “can I afford the cash timing?”

Freehold vs leasehold: budget differences to keep in mind

GOV.UK notes shared ownership homes are leasehold, but leasehold also applies to many non-shared-ownership flats.

In general, leasehold purchases can introduce:

• service charges
• ground rent (where applicable)
• management packs and extra legal checks
• potential future major works

The budgeting implication is simple: don’t just budget for the mortgage. Budget for the property’s ongoing and structural cost profile as well.

Quick sanity checks (2 minutes)

Before you commit, ask yourself:

• If the purchase takes 2 months longer than expected, do you still have cash buffer?
• If your mortgage rate is 1–2% higher after the fixed period, is the plan still comfortable?
• If you need a £2,000 repair in the first year, do you have a way to pay without high-interest debt?

If any answer is “no”, reduce the target price or increase the buffer until the plan is resilient.