Costs to move house

Costs to move house

There are different costs involved in buying and selling property in the UK.

 

 

 

 

 

The main costs are for buying:

 

Deposit – If you need a mortgage have you a 5% deposit or more saved? Or are you using the equity in your home as a deposit?

Mortgage admin costs and mortgage survey around £500+

Searches – around £250-£300

Legal costs – This can vary according to location and leasehold or freehold, it could be in the region £600-£1000

 

Current Stamp duty (post 4 December 2014) 

For residential house purchases, the current rates in the UK are as follows:

Consideration Rate (paid on portion in band like income tax)
up to £125,000 0%
from £125,001 to £250,000 2%
from £250,001 to £925,000 5%
from £925,001 to £1,500,000 10%
over £1,500,000 12%

 

Current Stamp duty (post 4 December 2014) 

Purchase   price/lease premium or transfer value SDLT   
£150,000 £500
£200,000 £1,500
£300,000 £5,000
£500,000 £15,000
£1   million £43,750
£2 million £153,750

 

Old Stamp duty (pre 4 December 2014) 

Purchase   price/lease premium or transfer value SDLT   rate
Up to   £125,000 Zero
Over   £125,000 to £250,000 1%
Over   £250,000 to £500,000 3%
Over   £500,000 to £1 million 4%
Over £1   million to £2 million 5%
Over £2 million from 22 March 2012 7%

 

The main costs are for selling:

Legal costs – This can vary according to location and leasehold or freehold, it could be in the region £700-£1000

Energy performance certificate – Around £100

Estate Agents fees in the UK are around 1.5 – 2% on average, some agents charge extra for floor plans, photography and brochures (Not Cooper Adams ours is all included!)

Removal costs – This can vary a lot but many are in the region of £500 – £1000

 

For more information or if you would like an exact calculation done please ask the team at Cooper Adams 01903 770055

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