GB Solicitors Ltd - purchasing FREEHOLD properties

FREEHOLD residential property - Estimate for the cost of purchase
Up to £200,000 £200,000 - £300,000 £300,000 - £500,000 £500,000 - £1 million 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.