First-time buyer costs 2026: every fee beyond the deposit

What do first-time buyer costs add up to?

Beyond the deposit, first-time buyer costs in England come to about £4,550 on a £230,000 new build in 2026: legal fees, mortgage fees, a snagging inspection, removals and a year of buildings insurance, with no stamp duty to pay. That figure is our worked example below, built from MoneyHelper, GOV.UK and HomeOwners Alliance prices checked on 27 September 2026. An older home at a higher price costs more, mainly because of stamp duty and a fuller survey.

The deposit is separate. Most lenders want at least 5% of the price (MoneyHelper), and the Your First Home scheme is expected to allow 2.5% on a new build once the Budget on 28 October 2026 sets the rules (GOV.UK). See how much deposit you need.

What does a first-time buyer solicitor cost?

A solicitor or licensed conveyancer costs about £2,000 including VAT for a purchase, according to MoneyHelper (MoneyHelper). The HomeOwners Alliance’s average conveyancing bill when buying, updated on 2 September 2026, is £1,509 (HomeOwners Alliance).

The quote splits into the firm’s own fee and “disbursements”, costs it pays out on your behalf:

Searches are the checks your solicitor buys from the council, the water company and others: planning history, road schemes, drainage and flood risk. A new-build plot is a “transfer of part” of the developer’s title, so it pays the full £330 in the £200,001 to £500,000 band, while an existing home registered online pays £150 (GOV.UK).

Which survey do you need, and what does it cost?

The lender’s mortgage valuation is not a survey and does not protect you (GOV.UK). A survey is a report on the home’s condition, written for you.

RICS Home Surveys come in three levels. Level 1 describes the condition and flags urgent defects, and suits conventional, newer homes. Level 2 adds a closer look at the roof space and drains and suits conventional homes in reasonable condition. Level 3 is the fullest report, for large, older, unusual or altered buildings (RICS). MoneyHelper’s prices are around £380 for Level 1, around £400 for Level 2 and £600 or more for Level 3 (MoneyHelper).

On a new build the equivalent is a snagging inspection: an independent inspector lists the faults for the builder to fix. Prices start at about £320 (HomeOwners Alliance). The buying a new build guide explains when to book it.

What mortgage fees are there?

Four fees can attach to a mortgage; the biggest is often optional.

• Arrangement or product fee: £1,000 to £2,000 or more on many deals (MoneyHelper). Fees vary wildly: in the HomeOwners Alliance rate table for 26 September 2026, the best 90% two-year fix carries a £1,124 fee and the best 95% five-year fix a £30 fee (HomeOwners Alliance). A low-fee deal with a slightly higher rate is often cheaper on a small mortgage.
• Booking fee: £100 to £200, paid when you apply and usually not refundable (MoneyHelper).
• Valuation fee: £150 to £800 depending on the price, though many lenders pay it for you (MoneyHelper).
• Mortgage account fee: £100 to £300 for setting up and closing the account (MoneyHelper).

A mortgage broker may be paid by the lender or charge you; the HomeOwners Alliance puts broker fees at £0 to several thousand pounds, with 0.3% of the loan common (HomeOwners Alliance).

How much stamp duty does a first-time buyer pay?

Nothing on the first £300,000, and 5% on the part between £300,001 and £500,000, as long as the home costs £500,000 or less and everyone buying is a first-time buyer (GOV.UK). So a £230,000 home pays £0, a £350,000 home pays £2,500 and a £500,000 home pays £10,000. Above £500,000 the relief vanishes and you pay the standard rates on the whole price. Your solicitor files the return and pays the tax within 14 days of completion (GOV.UK). Full detail and a calculator are on the first-time buyer stamp duty page.

What other costs catch first-time buyers out?

• New-build reservation fee: £500 to £2,000, paid to take the home off the market and normally deducted from the price at completion; check what you get back if you withdraw (HomeOwners Alliance). Developers signed up to the New Homes Quality Code must give you a 14-day cooling-off period (New Homes Quality Board).
• Buildings insurance: arrange it once you exchange contracts, to start on completion day, unless your solicitor says the contract puts the home at your risk from exchange; on a leasehold flat the freeholder usually insures the building through the service charge. MoneyHelper’s typical premium is £298 a year (MoneyHelper).
• Removals: £400 to over £1,000 for a professional firm (MoneyHelper).

Worked example: a £230,000 new build

A first-time buyer reserves a £230,000 new-build house, takes a mortgage with a £1,000 arrangement fee and books a snagging inspection. The reservation fee comes off the price, so it is not in the table.

With a 5% deposit of £11,500 the buyer needs about £16,050 in total; with a 2.5% deposit of £5,750 under Your First Home, about £10,300. Choosing a £350,000 older house instead would swap the £320 snagging inspection for a £400 Level 2 survey, add £2,500 of stamp duty and save £180 on the Land Registry fee: about £6,950 beyond the deposit.

What does a solicitor actually do?

Your solicitor or conveyancer handles the legal side from accepted offer to registered ownership. The Law Society lists the job as explaining how the process works, handling it on your behalf, advising at every stage, communicating with the seller’s solicitor, resolving legal issues, making enquiries of the council and others, exchanging signed contracts and transferring the money, arranging the stamp duty payment to HMRC, and applying to register you as the owner at HM Land Registry (The Law Society).

A licensed conveyancer does the same property work as a solicitor under a different regulator, and either is fine for a standard purchase. This site never recommends a firm; the questions below help you choose one yourself.

What should you ask a solicitor before you instruct them?

1. Is the quote a fixed fee, and exactly which disbursements does it include?
2. What do I pay if the purchase falls through? The Law Society says to check this before you instruct (The Law Society).
3. Are you on my lender’s panel? If not, the lender appoints its own solicitor and you may pay for two.
4. Do you charge extra for a new build, a leasehold, a gifted deposit, a Lifetime ISA withdrawal or a government scheme? Get each figure in writing.
5. Have you completed new-build purchases with an equity loan before, and can you meet a 28-day exchange deadline?
6. Are you accredited under the Law Society’s Conveyancing Quality Scheme, its standard for technical expertise and client service (The Law Society)?

When do you pay each cost? The first-time buyer timeline

Timings are the government’s estimates for a typical purchase, about 12 weeks from accepted offer to moving in (GOV.UK); the order of payments follows MoneyHelper’s money timeline (MoneyHelper).

First-time buyer checklist

• Deposit saved, plus a separate pot of about £4,500 to £7,000 for fees.
• Three conveyancing quotes compared on the full total, not the headline fee.
• Mortgage agreement in principle in hand before you view.
• Stamp duty checked on the calculator, including whether everyone buying is a first-time buyer.
• Survey or snagging inspection booked; the lender’s valuation does not count.
• Buildings insurance quote ready to start on completion day (or exchange day if your solicitor says the contract requires it).
• Service charge and estate charge figures in writing for any flat or new estate.

What to do next

• Run your price through the Your First Home scheme calculator to see the deposit and monthly payment, then add the fees above.
• Read the stamp duty page if your home costs more than £300,000.
• If it is a new build, read buying a new build for the reservation, snagging and warranty steps.