Closing Costs Calculator

Buyers plan for the deposit and are then ambushed by everything else. This adds up the whole cash requirement — deposit, transfer or stamp tax, legal and search fees, survey and moving — so the number you are saving toward is the real one.

Transfer tax varies enormously between countries and even between regions, so it is an input here rather than an assumption. Look up the rate that applies where you are buying and enter it; every other line is a figure you can get a quote for.

What goes into it

Cash needed = deposit + transfer tax + legal and survey fees + moving costs. Only the deposit reduces the loan; everything else is money spent to complete the transaction and never comes back.

Worked example

On a 300,000 purchase with a 20% deposit and 3% transfer tax: the deposit is 60,000, tax is 9,000, legal and survey 2,500 and moving 2,000. Total cash needed is 73,500 — about 22.5% more than the deposit alone, which is exactly the gap that catches first-time buyers out.

Getting the tax rate right

Transfer or stamp tax is set locally and often varies by price band, by whether you are a first-time buyer, and by whether the property is an additional home. Check the current schedule for the specific area before relying on a single rate.

Frequently asked questions