What Should I Save for Besides a Deposit? 

When buying your first home, it’s easy to focus solely on the deposit. But first-time buyers should budget for additional costs that typically total between £3,000 and £6,000. Planning for these early prevents last-minute stress during the final stages of your purchase. 

Stamp Duty 

This is the most important cost to budget for, as thresholds shifted in April 2025. 

In England and Northern Ireland, first-time buyer relief now only applies to homes up to £300,000. If you buy for more, you’ll pay 5% on the portion between £300,001 and £500,000. In Wales, there’s no specific first-time buyer relief for Land Transaction Tax (LTT) – is payable on any property value over £225,000. 

For a full breakdown of how much you might pay, see our guide on understanding Stamp Duty as a first-time buyer. 

Legal fees 

Conveyancing fees typically range from £1,000–£2,000. At Setfords, this covers the expert legal work required to transfer ownership into your name. 

Search fees cost around £250–£450. These are paid to third parties to check the Digital Land Charges Register for planning issues, environmental risks, and water connections. 

Most firms now use secure apps for Digital ID and Source of Funds checks. Having your digital bank statements ready for Open Banking verification helps keep your costs and timelines low. 

Mortgage and survey costs 

Mortgage arrangement fees range from £0 to £1,500. Some lenders offer fee-free deals to attract first-time buyers, though these may carry slightly higher interest rates. 

A mortgage valuation is for the lender, but a private survey is for you. A RICS Level 2 Survey costs around £400–£600 and suits standard homes. A RICS Level 3 Survey costs £600–£1,200 and is recommended for older or unusual properties. 

Moving and day-one essentials 

Removal costs vary from £300–£1,500. Even if you’re doing it yourself, van hire and insurance add up. 

You’re legally required to have buildings insurance in place from the moment of exchange. Budget around £200–£400 for your first annual premium. 

We also recommend keeping a £1,000 contingency fund for immediate repairs, lock changes, or emergency furniture. 

Next steps 

Budgeting beyond the deposit is what makes the difference between a stressful move and a smooth one. Our conveyancing team at Setfords provides transparent, fixed-fee quotes so you know your legal costs from day one – no hidden surprises. 

Get your free conveyancing quote today

What you can expect with Setfords

More time, more attention: With no targets, Setfords lawyers can dedicate more time to you.

Ultimate flexibility: Our lawyers can tailor their schedules to meet your needs.

Nationwide coverage: with hundreds of consultant lawyers across the UK, we’ll connect you with the right expert.

Dedicated specialist legal partner: work directly with your chosen lawyer from start to finish.

Highly experienced: Setfords lawyers have an average of 20 years’ experience, so you can be assured you’re in safe hands.

Capacity-based allocation: our lawyers never take on more work than they can handle, so you get the focus and attention you deserve.

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