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Cost of Moving House in the UK – All you need to know in 2018

Cost of Moving House in the UK – All you need to know in 2018 The cost of moving house in the UK for the year 2018 is currently estimated at £8,885.66. A breakdown of the costs of Moving House in the UK The moving house costs below for 2018 are based on the UK average property price of £226,071 (UK House Price Index)

What it costs to Buy a Property in the UK:

Conveyancing £580
Property Survey £400
Stamp Duty £2,021
Valuation Fee £227
Total Buying Costs: £3,228
Stamp Duty Stamp Duty, also known as SDLT, is a land tax in England and Northern Ireland that is applied when purchasing a property above the value of £125,000. Stamp Duty is paid directly to HMRC usually by your solicitor within 30 days of the completion of contracts. Currently there are five tax percentage band rates depending on the purchase price of a property.
Up to £125,000 0% £0
£125,000 – £250,000 2% £0-£2,500
£250,000 – £925,000 5% £2,500-£36,250
£925,000 – £1,500,000 10% £36,250-£93,750
£1,500,000 12% £93,750+
As a property buyer you will only pay the rate that corresponds to that portion of the total purchase price. For example, if you purchase a property for £250,000, the stamp duty you will pay is broken down as follows: 0% on the first £125,000 = £0 2% on the next £125,000 = £2,500 Total stamp duty owed on completion = £2,500 Solicitor Fees / Conveyancing Costs When buying an average freehold property in the UK you can expect to pay £950 in solicitors fees. This is an estimated amount that includes £430 for conveyancing costs, £270 in land registry fees, and £250 for search fees. Conveyancing solicitors costs can vary depending on who you use. Some solicitors will charge a flat rate depending on what your property is worth, a bit like a house valuation fee. You can expect to pay a bit more for leasehold properties, this is because more time and paperwork is needed to be completed by the solicitor. Property Surveys Property survey prices can be anything from £250 to £1,000 depending on the type you choose and size of your property. The 2 most common property surveys in the UK are as follows: Home buyers report – A home surveyor will give you a fairly detailed report of the property you are looking to purchase. Generally the surveyor will not look under flooring or behind walls to check for damp or damage. It’s very rare that you will receive an official property valuation when choosing a home-buyers survey. Building survey – A building surveyor is more detailed and will look behind fittings and furniture checking for defects or damage that may be behind walls and under flooring etc. The building surveyor will also give you a valuation of the property which will be added to your building survey. If any damage or defects are found in the property, your surveyor should give you professional advice on how to rectify the issues and the costs involved. Deposit The minimum deposit amounts for purchasing a property are usually between 5-10% in the UK. The greater your initial deposit is, the better your mortgage rate is likely to be. Mortgage providers will charge higher APR rates depending on how much of the property value you will need to borrow. Valuation Fees When purchasing a property with a mortgage, you will need an official house valuation. All mortgage providers will require a valuation to confirm the true value of a property. Some mortgage lenders will include a free valuation as part of their mortgage package. If a valuation was included in your home survey, you will not need to pay for another one. You can expect to pay around £200 for a valuation on properties with a value between 200k – 250k.

What it costs to Sell a Property in the UK:

Estate Agency costs will vary depending on the value of your property.
Conveyancing £950
EPC £80
Estate Agent Fees £3,391
Total Selling Costs £4,421
Average Estate Agency Fees in the UK You can expect to pay between 1% and 2.5% of the final property price for most UK high street estate agents.
Property Value 1% Agency Fee 1.5% Agency Fee 2% Agency Fee 2.5% Agency Fee
£100,000 £1,000 £1,500 £2,000 £2,500
£125,000 £1,250 £1,875 £2,500 £3,125
£150,000 £1,500 £2,250 £3,000 £3,750
£200,000 £2,000 £3,000 £4,000 £5,000
£300,000 £3,000 £4,500 £6,000 £7,500
£400,000 £4,000 £6,000 £8,000 £10,000
£500,000 £5,000 £7,500 £10,000 £12,500
£750,000 £7,500 £11,250 £15,000 £18,750
£1,000,000 £10,000 £15,000 £20,000 £25,000
Solicitor Fees / Conveyancing Costs Solicitor fees when selling a property are typically lower than when purchasing a property. Based on the average house price in the UK as of 2018, you will pay around £580. This includes £450 in legal fees, £30 for a bank transfer, and VAT which will be £100. Solicitors will not have to conduct any searches or land registration checks like they would if your were buying a property. The solicitor will liaise with the buyer’s solicitor and be responsible for the fees and payments of the sale.
Sale Price Legal Fee Additional Fees VAT Total
£100,000 £410 £30 £85 £525
£150,000 £420 £30 £95 £555
£200,000 £450 £30 £100 £580
£250,000 £470 £30 £100 £600
£300,000 £485 £30 £105 £620
£350,000 £525 £30 £105 £660
£400,000 £575 £30 £110 £715
£500,000 £625 £30 £115 £770
£600,000 £650 £30 £115 £795
Additional moving costs: House Removals costs will vary depending on the size of your property, quantity of household items, and distance traveled.
Postal Redirection £80
Removal Company 1,192.67
Total Selling Costs £1,236.66
  The cost of moving house in the UK for the year 2018 was estimated at £8,885.66