How much does it cost to buy a house or how much does it cost to move home?

Costs may include:

• Valuation, Survey, Lender fees, Application & Advice fees - these are generally payable on application, so allow costs of around 0.5% of the purchase price to be paid upfront. Occasionally some of these can be added to the loan.

• Legal fees, Local searches & Transfer fees - Your solicitor or licensed conveyancer is required to carry out all the legal work when buying and selling a property and transferring funds. Allow approximately £2,000 for purchasing a property and an additional £1,500 if you are selling as well.

• Stamp duty - is a government tax paid on homes and can vary from time to time.

• Estate agent's fees - Are only applicable if you have something to sell. They are usually 1% to 3% of the sale price plus VAT, so work on 2% plus VAT for an average.

• Removal costs - If you do not do it yourself, costs can vary based on level of service and volume of goods, speak to your preferred removals firm for a quote.

• Deposit - On average, you may be expected to come up with at least 5% to 25% (this varies from time to tie and subject to status and criteria) of the purchase price as a deposit (for example: £10,000 to £50,000 when buying a £200,000 home).

• Early redemption charges - sometimes there may be a fee to pay to close a mortgage and move it to another lender if it is still within a special rate period. Your Elamo advisor will help you decide if it is worthwhile paying this or staying with the same lender until expiry.

• For buying an investment to let or 2nd home - Allow an extra 1% of purchase price on costs detailed above, remember the additional 3% stamp duty charge too and that this can vary from time to time.

*This cost guide is not advice and is for information purposes only, actual figures may differ