Moving home often focuses on the asking price or mortgage figure but that’s only part of the story. Every transaction carries additional costs, and for many, these can come as an unwelcome surprise.
At Symonds Taylor, we believe in clarity and preparation. With decades of combined experience in the Newcastle housing market, Rob Taylor and our team guide clients through the full financial picture, enabling them to move with confidence.
The Hidden Costs for Buyers
Solicitor and Conveyancing Fees
Legal fees are unavoidable. In 2024, average conveyancing costs rose by almost 19% to around £1,567 per transaction (Today’s Conveyancer). Buyers also pay for searches such as:
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Local authority checks (£250–£300)
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Anti-money-laundering checks (£6–£20)
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Land Registry fees
These small items add up quickly.
Mortgage Fees
Mortgage applications often include valuation or arrangement fees. These typically range between £500–£1,500, and some lenders require them upfront.
Surveys
A survey is vital to avoid unexpected issues.
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Level 1 Survey (Condition Report): ~£300
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Level 2 HomeBuyer Report: £400–£1,000
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Level 3 Full Structural Survey: £630 upwards (HomeOwners Alliance)
Stamp Duty Land Tax (SDLT)
Stamp duty is one of the largest costs for buyers. Currently:
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No SDLT on properties up to £250,000
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5% on the portion above £250,000
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First-time buyers pay no SDLT up to £425,000 (UK Government guidance)
Moving Costs
From removals to storage, the average cost of moving home in the UK is just under £16,000 once stamp duty and associated fees are included (MoneyWeek). Even modest moves cost £400–£1,200 for removals depending on distance and services.
The Hidden Costs for Sellers
Estate Agent Fees
For sellers, estate agent fees are often the largest outgoing. In 2024, the UK average was around 2% of the property price, equating to about £5,700 per property (Today’s Conveyancer).
Conveyancing Fees
Seller conveyancing costs typically fall between £600–£950, with higher fees for leasehold properties.
Energy Performance Certificate (EPC)
A valid EPC is a legal requirement. These usually cost between £85 and £200.
Repairs and Improvements
Many sellers underestimate the benefit of small improvements. Painting, minor repairs, and professional staging can make a property more attractive and help secure a better price.
Why Transparency Matters
At Symonds Taylor, we’ve seen how hidden costs can derail a move. Poor planning creates unnecessary pressure. Our role is to demystify the process. Rob Taylor and the team use their local knowledge and expertise to ensure every client understands the full journey — from valuation to completion.
Book a free property valuation today and speak to our team about planning your move.
Five Top Tips for Budgeting
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Request full quotes from conveyancers, including disbursements and extras.
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Plan for surveys early — they provide peace of mind and strengthen negotiations.
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Budget realistically for removals; get at least three quotes to compare services.
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Factor in 5–10% above the property price for fees and extras.
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Contact Symonds Taylor early; our market appraisals provide realistic selling costs and potential savings.
Sources
Contact Symonds Taylor Newcastle:
- 📞 Phone: 0191 338 9999
- 📍 Address: 101 St Georges Terrace, Newcastle Upon Tyne NE2 2DN
- 📧 Email: [email protected]
