Thinking About Buying? Here’s What You Need to Know About the Real Costs
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Whether you’re upsizing, downsizing, or relocating, buying a home is a big step — and we’re here to help you navigate it clearly and confidently.
If you’ve bought before, you’ll know there are more costs involved than just your deposit and mortgage. But the property market — and the associated fees — change over time, so here’s a simple, up-to-date overview of what you’ll need to budget for in 2025.
1. Deposit
As a non-first-time buyer, you’ll typically need a minimum of 10% deposit, though a larger one (15%–25%) will help you access better interest rates. For example, on a £700,000 property, a 10% deposit would be £70,000.
2. Stamp Duty (2025 Rates)
Unlike first-time buyers, you don’t qualify for any Stamp Duty relief. The current rates in England are:
0% on the first £250,000
5% on the portion from £250,001 to £925,000
10% on the portion from £925,001 to £1.5 million
12% above £1.5 million
Example: If you’re buying at £700,000, your Stamp Duty will be £22,500.
If you’re buying a second property, you’ll also pay a 3% surcharge on the full purchase price, so it’s important to be clear on your position before committing.
3. Mortgage Fees
Mortgage products may come with arrangement fees (usually between £500–£1,500), but we can put you in touch with trusted mortgage advisors who will compare the whole market and find fee-free or flexible options that suit your situation.
4. Solicitor/Conveyancing Fees
You’ll need a solicitor to manage contracts, searches and the legal side of the purchase. Expect to pay between £1,200–£2,000, depending on the property type and whether you’re also selling.
We work with experienced, reliable solicitors who know how to keep sales on track and minimise delays — something we know matters.
5. Survey Costs
You’ll likely want more than just the lender’s valuation, especially if you're buying an older or unusual property. Typical options:
Homebuyer Report: £400–£700
Full Building Survey: £700–£1,200+
We can help guide you to the right option depending on the property you’re buying.
6. Moving Costs
Depending on the size of your move and the distance, removals can range from £500 to £2,000+. We've worked with the same trusted removals company for years and can secure you preferred rates.
7. Estate Agency Fees (If You’re Selling Too)
If you’re buying and selling at the same time, you’ll need to factor in estate agency fees on the sale of your current home. These are typically 1%–2% + VAT of the final sale price. At GLP, we offer a full, high-value service with no upfront costs — and we’ll talk you through every stage.
Where You Can Save
- Use a whole-market mortgage advisor – our team can recommend excellent ones.
- Choose a solicitor with fixed-fee pricing to avoid surprises.
- Avoid peak times when booking removals – mid-week moves can be more affordable.
- Get clarity early if your purchase might count as a second home – to avoid unexpected tax costs.
Why Work With Greater London Properties?
We’ve worked with the same solicitors, advisors, and removals team for over 20 years, which is why our sales don’t just go under offer — they complete.
We’re also proud to support our community. For every property we sell, we donate 10% of our sales fee to a school of the seller’s choice through our Support Our Schools initiative — now available in Dulwich and Herne Hill.
Kate and Rob Hill
Dulwich Branch: 📞 +44 207 292 2550
Email: dulwich@glp.co.uk