The cost of moving home is getting more expensive, says new research. The average cost of a move is now more than £12,000, according to Lloyds Bank, having risen by almost twice the rate of inflation in the last year alone.
Homeowners need to find an extra £500 to finance their move. Taking into account all the different expenses involved in selling up, Lloyds says the total cost now stands at £12,110, up 4 percent on 12 months ago. That 4 percent rise is almost double the increase in Consumer Price Index inflation over the same period.
Average fees up
Lloyds lists average home-moving costs:
- Estate agent fees £5,700
- Stamp duty £3,262
- Conveyancing £1,326
- Removals £1,168
- Surveys £565
- Energy Efficiency Certificate (EPC) £60
The increase in house prices means estate agent fees and stamp duty costs are also going up because they are paid as a percentage of the sale price.
While Homeward Legal can't do anything about rising estate agent costs or reducing your stamp duty liability, we can ensure you get the most cost-effective, high-quality conveyancing services.
With our no-move, no-fee guarantee in place, you won't be out of pocket if, for any reason, your sale or purchase fails to complete.
Talk to our team now on to see how we can keep the cost of conveyancing services down.