The average cost of conveyancing (transferring the ownership of a property) in the UK varies from £800 to £1,50, depending on complexity and property value. This includes costs for searches, Land Registry fees, and other disbursements.
EXAMPLE: For a £300,000 property, the legal fees for both buying and selling could cost around £2500 total.
There are various degrees of survey that you might want to consider. The most basic level is a homebuyer’s report, which costs between £400 to £1,000 and simply assesses the property on a surface level.
A full structural survey (recommended for older properties) will look more in detail for any potential structural issues with the property, and costs between £600 anf £1500.
Valuation surveys are also usually required by mortgage lenders to ensure you’re paying a fair price for the property. These typically range from £300 to £600.
EXAMPLE: On a £300,000 home, the buyer pays £1000 for a full survey and £450 for a valuation survey.
Depending on where you’re moving from and how much furniture and belongings you need to transport, you may need to hire a van or pay a removal company for their services. Removal costs average between £300 to £1,500 depending on the distance, amount of belongings, and whether you're hiring a full-service removal company.
EXAMPLE: The buyers of a £300,000 house have lots of furniture and have chosen a full service removal company, costing £1,500.
Based on our example for all the above, the buyers of our £300,000 home are looking at around £14,950.
However, there are certain areas where savings could be made, such as opting for a lesser survey, doing more of the removals themselves and hiring a van, opting for a fee-free mortgage and shopping around for cheaper legal and estate agent fees.
