At a glance
Key facts buyers should know first
Early checks
Mortgage, legal, survey
At exchange
Contract deposit and insurance timing
At completion
Verified completion statement
Immediately after
Move-in, bills and urgent setup
Before-completion payment timeline
The table below shows a planning sequence; actual requests and refund terms vary, with columns for Stage and Possible costs.
| Stage | Possible costs |
|---|---|
| Before an offer | Agreement-in-principle or broker work where charged, affordability checks and a protected fee buffer |
| Reservation / mortgage application | Reservation fee on some new builds; mortgage booking, valuation or broker fee where charged |
| Legal work begins | Conveyancing payment on account and search pack |
| Property checks | Buyer survey or snagging inspection |
| Exchange | Exchange deposit, less any deposit already held under the agreed contract process |
| Between exchange and completion | Buildings insurance where required, removal balance, storage, final mortgage and legal checks |
| Completion | Cleared balance shown on the conveyancer's statement, plus tax and registration money handled through the legal process |
| Immediately after completion | Locks, cleaning, utilities, council tax, urgent repairs and essential move-in spending |
On smaller screens, scroll sideways to view every column clearly.
Reservation and mortgage costs
A new-build developer may request a reservation fee and impose a reservation deadline. Read what is refundable, what is deducted from the price and what happens if the mortgage or legal work takes longer.
A lender or broker may charge for a product, booking, valuation, advice or administration. Some charges are paid at application, some are added to the loan and others are payable only at completion. Adding a fee to the mortgage can increase the amount on which interest is charged.
Survey, searches and legal money on account
A surveyor may require payment before inspection. A conveyancer commonly asks for money on account so searches and other early disbursements can be ordered.
For an England purchase, the central search allowance is £260–£430; for a £300,000 property, the central survey points run from £450 to £1,050. These are planning figures, not quotes.
If the transaction falls through, work already completed and third-party disbursements may still be payable. Ask about abortive-fee terms before instructing.
Exchange deposit and completion balance
The contractual exchange deposit is due at the contract stage used for the transaction. A gifted deposit, related sale or reduced exchange deposit needs to be discussed early with the lender and conveyancer.
The completion statement then shows the remaining purchase money and reconciles mortgage funds, tax, registration, legal costs and earlier payments. Send only the verified figure by the stated deadline.
Practical note
Between exchange and completion
Once contracts are exchanged, the purchase is normally binding and the practical work accelerates. Confirm when buildings insurance must begin: on many England and Wales purchases the buyer is advised to insure from exchange, but the contract, tenure, lender requirements and legal system can change the position. Follow the conveyancer's transaction-specific advice rather than a generic date.
This is also the point to confirm the removal booking, packing help, storage and access arrangements. Final mortgage conditions and legal checks may still need to be satisfied before lender funds and buyer funds can be released.
Treat every request for completion money as security-sensitive. Verify the completion statement and bank details through a trusted channel already agreed with the conveyancer, especially if an email appears to change payment instructions.
When property tax is paid
The table below shows tax regimes and practical funding, with columns for Property location, Tax, and Practical point.
| Property location | Tax | Practical point |
|---|---|---|
| England or Northern Ireland | SDLT | The conveyancer normally collects the amount needed for filing and payment after completion |
| Scotland | LBTT | Funds are normally dealt with through the solicitor as part of settlement and return arrangements |
| Wales | LTT | The conveyancer normally handles the return and payment funding |
On smaller screens, scroll sideways to view every column clearly.
Legal deadlines and filing processes differ. Treat the money as part of the completion funding requirement even where the statutory payment occurs after the completion date.
Completion day and the immediate move-in period
On completion, the conveyancer sends the verified funds, the seller's side confirms receipt and the keys can be released. The first ownership costs then begin quickly, even though they are not part of the legal completion balance.
Keep accessible cash for removals or van hire, storage, cleaning, lock changes, council tax and utility setup, insurance, urgent repairs and essential furnishings. A separate emergency buffer prevents those predictable first-week costs from competing with the purchase money.
The table below shows keep transaction and ownership budgets separate, with columns for Budget, Examples, and Why separate it.
| Budget | Examples | Why separate it |
|---|---|---|
| Before / on completion | Survey, searches, legal work, exchange deposit, completion balance, tax, registration, removals | Required to reach completion |
| Immediately after completion | Removals, storage, locks, cleaning, council tax, utilities, repairs, furniture and setup | Ownership starts with cash needs of its own |
| First one to three months | First mortgage payment, recurring bills, insurance and repair follow-up | Early ownership needs a separate buffer after the transaction closes |
On smaller screens, scroll sideways to view every column clearly.
Map every payment to a date
Use the calculator to build the total, then add the payment date, refund terms and confirmed quote beside each line in your own transaction plan.
Go to the calculatorEditorial record
- Page reviewed
- 25 July 2026
- Calculator data
- 2026.07.1
Official charges use linked public rules; quote-led figures remain planning assumptions until you replace them. Read the source and calculation method or report an error.
FAQ
Questions buyers usually ask
What do I pay before completion when buying a house?
Possible payments include mortgage or reservation fees, a legal payment on account, searches, survey, exchange deposit and the completion balance. The exact sequence depends on the transaction and jurisdiction.
Are stamp duty, LBTT or LTT paid before completion?
The tax return and statutory payment timing differ by jurisdiction, but the conveyancer normally needs the tax funds as part of the money reconciled for completion. Follow the completion statement and legal advice for the transaction.
What happens to survey and search costs if the purchase fails?
Money already spent on a completed survey, searches or legal work may not be refundable. Check each provider's abortive and refund terms before paying.
What costs usually arise after exchange but before completion?
Common items include buildings insurance where required, the removal balance, packing or storage, and the final mortgage, legal and completion-funding checks.
When should buildings insurance start?
The contract, tenure, lender and jurisdiction determine the exact timing. Many buyers are advised to arrange cover from exchange, but the conveyancer should confirm the position for the purchase.
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Sources and checks
These are the main public sources used for official-rate items and checks on this page. Estimate-led costs remain planning ranges rather than government charges.