The True Cost of Buying a Home: Stamp Duty and Fees Explained
Key Takeaways
- Standard stamp duty starts at £125,000: 2% to £250,000, 5% to £925,000, then higher bands above.
- First-time buyers pay nothing up to £300,000 and 5% to £500,000, with no relief above £500,000.
- On a £645,951 home — Chigwell's current average — a home-mover pays about £22,300 in stamp duty.
- Beyond stamp duty, budget for conveyancing, searches, a survey, mortgage fees and removals.
- Buy-to-let and second-home buyers pay a 5% surcharge on top of standard rates.
The price on the listing is only the beginning. Between stamp duty, legal work and the practicalities of moving, the real cost of buying a home runs well beyond the headline figure. Here is what to budget for in 2026, with a worked example based on the average Chigwell price.
Stamp Duty Land Tax — the biggest add-on
Stamp Duty Land Tax (SDLT) is charged in bands, so you only pay each rate on the portion of the price within that band. For someone buying their only or main home, the current England and Northern Ireland rates are:
- Up to £125,000: 0%
- £125,001 to £250,000: 2%
- £250,001 to £925,000: 5%
- £925,001 to £1.5 million: 10%
- Above £1.5 million: 12%
First-time buyers pay nothing up to £300,000 and 5% from £300,001 to £500,000, with no relief above £500,000. Anyone buying an additional property — a buy-to-let or second home — pays a 5% surcharge on top of every band, and non-UK residents pay a further 2%.
A worked example: on a home at £645,951 — Chigwell's current average (see our market update) — a buyer replacing their main residence pays nothing on the first £125,000, 2% (£2,500) on the next £125,000, and 5% (about £19,798) on the remaining £395,951: a total of roughly £22,300. A first-time buyer at that price would pay the same, because relief is withdrawn above £500,000. You can check any price with our stamp duty calculator.
Legal and conveyancing fees
Your conveyancer or solicitor handles the legal transfer, and their fee typically comes to somewhere between £1,000 and £2,000, plus disbursements — the property searches, Land Registry fee and bank transfer charges they pay on your behalf. It is worth getting a full quote up front so nothing is a surprise at completion.
A survey
A survey is not compulsory, but it can save you from expensive shocks. Costs rise with the level of detail — from a few hundred pounds for a basic condition report to £1,000 or more for a full building survey on an older or larger home. Given the age of much of West Essex's housing stock, it is money well spent.
Mortgage costs
Depending on the deal, your lender may charge an arrangement or product fee and a valuation fee, and a mortgage broker may charge for their advice. Some of these can be added to the loan, but doing so means paying interest on them, so weigh it up.
Moving costs
Finally, the move itself: professional removals, and possibly storage if your dates do not line up. It is the easiest cost to underestimate, so get quotes early.
Putting it together
As a rule of thumb, set aside a buffer on top of your deposit for all of the above — stamp duty is usually the largest single item, but the fees add up. If you are buying and selling at the same time, start by finding out what your current home is worth: book a valuation and we will help you plan the whole move.
Stamp duty figures are current England & Northern Ireland rates as published by HM Government (2026); fee ranges are typical guides only. Always confirm figures with your solicitor, lender or a qualified adviser.
