First Time Home Buyer UK - Complete Cost
Every cost first-time buyers in the UK face in 2026 from deposit and stamp duty relief to solicitor fees, surveys, and ongoing ownership costs.
Buying your first home in the UK is one of the biggest financial commitments you will ever make. Beyond the deposit, there are numerous fees and costs that catch many first-time buyers off guard. This guide gives you a complete picture of every cost involved so you can budget accurately for 2026.
The Deposit
Most lenders require a minimum 5% deposit, though a 10-15% deposit will get you better interest rates. Here is what different deposit levels look like for common property prices:
| Property Price | 5% Deposit | 10% Deposit | 15% Deposit |
|---|---|---|---|
| £200,000 | £10,000 | £20,000 | £30,000 |
| £250,000 | £12,500 | £25,000 | £37,500 |
| £300,000 | £15,000 | £30,000 | £45,000 |
| £400,000 | £20,000 | £40,000 | £60,000 |
Stamp Duty Land Tax (First-Time Buyer Relief)
First-time buyers in England and Northern Ireland benefit from stamp duty relief. From April 2025:
- No stamp duty on the first £300,000
- 5% on the portion between £300,001 and £500,000
- If the property costs more than £500,000, you pay standard rates (no first-time buyer relief)
Example: A £350,000 property as a first-time buyer: stamp duty = 5% x £50,000 = £2,500. A standard buyer would pay £7,500 on the same property.
Legal and Conveyancing Fees
A solicitor or licensed conveyancer handles the legal transfer of property ownership. Expect to pay:
- Solicitor fees: £1,000 to £2,000 (plus VAT)
- Search fees: £250 to £400 (local authority, environmental, water, drainage searches)
- Land Registry fee: £100 to £300 depending on property value
- Bank transfer fee: £25 to £50 per transfer
Total legal costs typically range from £1,500 to £3,000 including VAT and disbursements.
Surveys and Valuations
- Mortgage valuation: Many lenders include this free with the mortgage product. If charged, it is £150 to £300.
- Homebuyer report (RICS Level 2): £400 to £600. Recommended for most properties built after 1900.
- Full building survey (RICS Level 3): £600 to £1,500. Essential for older, unusual, or listed properties.
Mortgage Fees
- Arrangement/product fee: £0 to £1,999. Some of the best interest rates come with high fees. Calculate whether the lower rate saves more than the fee costs over your deal period.
- Booking fee: £0 to £250 (non-refundable, charged by some lenders).
- Mortgage broker fee: £0 to £500. Many brokers are fee-free (they earn commission from the lender).
Moving and Setup Costs
- Removal company: £300 to £1,500 depending on distance and volume
- Furniture and appliances: £2,000 to £10,000+ depending on whether the property is unfurnished
- Redirect mail (Royal Mail): £35 for 3 months
- New locks: £100 to £300 (recommended for security)
Total Upfront Cost Summary
| Cost | Range (£250K property) |
|---|---|
| Deposit (10%) | £25,000 |
| Stamp duty (FTB) | £0 |
| Legal fees | £1,500 - £3,000 |
| Survey | £400 - £600 |
| Mortgage fees | £0 - £2,000 |
| Moving costs | £500 - £1,500 |
| Total (excl. deposit) | £2,400 - £7,100 |
Government Help for First-Time Buyers
- Lifetime ISA (LISA): Save up to £4,000/year with a 25% government bonus (£1,000/year). Maximum bonus: £33,000 over your lifetime. Property must cost £450,000 or less.
- First Homes scheme: 30-50% discount on new-build properties in eligible areas.
- Shared Ownership: Buy a 25-75% share and pay rent on the rest. Gradually increase your share over time.
- Right to Buy: Council tenants can purchase their home at a discount.
Ongoing Monthly Costs to Budget For
- Mortgage repayment
- Council tax (£100 - £300/month depending on band and area)
- Buildings insurance (required by lender)
- Contents insurance
- Utilities (gas, electricity, water)
- Maintenance fund (budget 1% of property value per year)
Estimate your total costs with our First-Time Buyer Calculator.