Moving Costs & Choosing the Right Mortgage Type

Stamp Duty Land Tax applies to the purchase price above the zero-rate threshold. Home movers pay standard rates with no first-time buyer relief, so you pay five per cent on the portion between £250,001 and £925,000. On a £400,000 purchase that is £7,500 in stamp duty. Your solicitor or conveyancer will typically charge between £1,000 and £2,500 for the legal work across your sale and purchase.

Estate agent fees are the other significant cost on your sale. Commission is typically between one and three per cent of the sale price. Some agents offer flat-fee structures, which can be cheaper on higher-value properties. Always compare fees and terms before instructing.

Most home movers choose a fixed rate mortgage, which locks in your interest rate for a set period (typically two, three or five years) and gives complete certainty over monthly payments. A tracker mortgage follows the Bank of England base rate and can be cheaper when rates are falling, but your payment will rise if the base rate increases. The right choice depends on your circumstances and appetite for payment variation.

Mortgage arrangement fees vary by product. Some deals have no fee but a slightly higher rate; others charge up to £1,999 with a lower rate. Your adviser will calculate which option costs you less overall based on your loan size and the term you choose.