Searches

Various searches need to be undertaken when buying a property.  The exact fee payable for searches varies from each property depending on a number of factors, such as the location and whether personal searches are acceptable.  We shall be able to advise you of the exact fee payable once we have details of the purchase.

Survey

We always advise that a buyer carries out a structural survey of the property they intend to buy.  Fees can vary.

Stamp duty

Stamp duty land tax is a tax payable on any purchase for more than £125,000.

If the purchase price exceeds £125,000 but not more than £250,000 then the fee payable is 1% of the purchase price.

Above £250,000 and up to £500,000 the fee is 3%

Above £500,000 the fee is 4%

The tax is payable by the buyer – not the seller.

Visit www.hmrc.gov.uk for further information about stamp duty land tax

Land Registry fees

There is a fee payable to the Land Registry to register you as the new proprietor of the property following completion.  The fee payable depends upon the purchase price.  The current fee scale can be reviewed at www.landregistry.gov.uk.

Leasehold fees

If you are buying or selling a leasehold property then please remember that there may be additional costs payable to the landlord or management company.  When selling a leasehold property it is commonplace for the landlord or management company to charge an administration fee for providing information for your buyer.

When buying a leasehold property there may be fees payable to the landlord or management company on completion for entering into a deed of covenant and/or providing notice of change of ownership.  We shall keep you advised of any such costs throughout the transaction.

Legal fees

We will be pleased to provide you with a detailed quote of the legal fees and disbursements involved in your transaction. Please email our Residential Property Team.