Costing your move...
It’s always important to consider the upfront costs associated with your move.
On average, you will need 5-20% of the purchase price.
Land Transaction Tax
Government tax paid on homes over a threshold. Visit to find out the costs: https://lttcalculator.wra.gov.wales
When buying, a lender will need to assess the value of the property to allow them to decide how much to lend you.
Consider the costs for a solicitor or licensed conveyancer to complete the legal work associated with buying and selling your home.
Electronic Transfer Fee
The cost for your lender to transfer the mortgage money to the solicitor.
An Energy Performance Certificate must be provided to show to potential buyers (we will arrange this for you).
If you are selling you will pay for estate agent’s services which will be negotiated between you and them.
Consider the cost of hiring a van/ removal service (if necessary).
Stamp Duty Costs
We know that planning for all costs is a vital part to the selling and buying process. That is why we have listed explained stamp duty costs to make it easier for you to organise everything you need to sell your home.
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England, Wales and Northern Ireland. Costs of this can be found below.
The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.
|Property or Lease Premium or Transfer Value||Stamp Duty Land Tax Rate|
Up to £125,000
|The next £125,000 (the portion from £125,001 to £250,000)||2%|
|The next £675,000 (the portion from £250,001 to £925,000)||5%|
|The next £575,000 (the portion from £925,001 to £1.5 million)||10%|
|The remaining amount (the portion above £1.5 million)||12%|
Example of stamp duty costs
If you buy a house for £275,000, the SDLT you owe is calculated as follows:
- 0% on the first £125,000 = £0
- 2% on the next £125,000 = £2,500
- 5% on the final £25,000 = £1,250
- Total SDLT = £3,750