What are the total costs of buying a first home?

Beyond the deposit, first-time buyers should budget for solicitor/conveyancing fees (£800-£1,500), survey costs (£250-£600), mortgage arrangement fees (£0-£2,000), buildings insurance, removal costs, and stamp duty (nil on the first £300,000 for eligible first-time buyers).

How much deposit do first-time buyers need?

A minimum of 5% is typically required, though 10-15% will get you access to better mortgage rates. For a £250,000 property, a 5% deposit is £12,500 and a 10% deposit is £25,000.

First-Time Buyer Cost Calculator

Calculate everything a first-time buyer needs: deposit, stamp duty, solicitor, survey, mortgage fees and monthly payments.

Last updated: April 2026 · Source: GOV.UK — First-time buyers relief

Property Price

Deposit

Your Salary

Partner Salary

You can afford this! Max borrowing: £292,500.00

Monthly Mortgage

£1,368.05

at 4.5%, 30yr

Total Upfront

£32,999.00

LTV

90%

Deposit

10%

Deposit	£30,000.00
Stamp Duty (FTB relief)	£0.00
Solicitor	£1,500.00
Survey	£500.00
Mortgage Fee	£999.00
Total Cash Needed	£32,999.00

Disclaimer

This calculator is provided for informational purposes only and should not be considered as financial or tax advice. All calculations are performed locally in your browser — no personal data is collected or sent to our servers. Rates and thresholds are sourced from HMRC and GOV.UK and are updated for the current tax year. Always verify results with HMRC or consult a qualified professional before making financial decisions.

How It Works

First-time buyers in the UK face a range of upfront costs beyond the deposit. This calculator brings together all the expenses: stamp duty (with first-time buyer relief applied), solicitor fees, survey costs, mortgage arrangement and valuation fees, and moving expenses. It gives a complete picture of the cash you need to buy your first home.

First-time buyer stamp duty relief means no SDLT on the first £300,000 for properties up to £500,000. Many lenders offer 95% LTV mortgages for first-time buyers, meaning a 5% deposit is the minimum. However, a larger deposit gives access to lower interest rates, and the Help to Buy ISA or Lifetime ISA can boost your savings with a 25% government bonus.

This calculator takes your target property price, savings and income to show whether you can afford to buy, what mortgage you could get, the total upfront costs and estimated monthly payments. It also checks eligibility for first-time buyer schemes including Lifetime ISA bonus, shared ownership and First Homes.

Example: First home at £280,000, £20,000 savings

Deposit (5%): £14,000 + £6,000 for costs
Stamp duty (first-time buyer): £0 (under £300,000)
Solicitor, survey, searches: approx. £2,500
Mortgage fee: £999
Mortgage: £266,000 at 4.5% over 30 years: £1,348/month
Total cash needed at completion: approx. £17,499

Source: GOV.UK — First-time buyers relief

Frequently Asked Questions

What are the total costs of buying a first home?: Beyond the deposit, first-time buyers should budget for solicitor/conveyancing fees (£800-£1,500), survey costs (£250-£600), mortgage arrangement fees (£0-£2,000), buildings insurance, removal costs, and stamp duty (nil on the first £300,000 for eligible first-time buyers).
How much deposit do first-time buyers need?: A minimum of 5% is typically required, though 10-15% will get you access to better mortgage rates. For a £250,000 property, a 5% deposit is £12,500 and a 10% deposit is £25,000.