FREEHOLD residential property - Estimate for the cost of purchase | ||
Click above for estimate |
Our fee | £550 |
Land Registry searches | £15 | |
Bank transfer fee | £30 | |
VAT on above at 20% | £119 | |
Search Fees | £200 | |
Fee for land registration | £270 | |
Total: | £1,184 |
In addition to these expenses there will be tax to pay if the price exceeds £125,000. The rate of 1% applies to purchases up to £250,000 in value, 3% applies for properties priced from £250,001 to £500,000 and 4% for the properties priced from £500,001 to £1 million. Higher rates apply to properties over £1 million.
The tax is applied to the full value of the property so a purchase at £250,000 attracts tax of £2,500 whilst a purchase at £250,001 will attract tax of £7,500. See the separate notes relating to Stamp Duty Land Tax.
This page is for the purchase of dwellings only. If you are purchasing a commercial property, land or something more unusual please contact us to obtain details of our costs.