Buying Costs Reference

We recommend that you print this help screen as it contains important information relevant to your purchase.

Search Fees

Local Authority Search

This search is compulsory if you are buying the property with the aid of a mortgage.  It will identify any local issues or planned development by the Council and may influence your decision to proceed.  Our local searches provide information confirming that the property is connected to mains drains and sewers, and that there are sufficient provisions for surface water drainage. 

Optional Searches

Environmental Searches are optional but offer information about the past uses of the land around the property, and whether there are potential contamination issues.  It also gives information about potential subsidence and ground movement, although it is not as detailed as a structural survey.

Plan Searches are also optional.  They give a lot of information about the local amenities, together with crime statistics, local school performance tables and planning applications made by the surrounding properties.

We offer the Local Search (with drainage information) Environmental Search and Plan Search for a package price of £160.00.

Regional Searches

There are a number of different searches which can be required in certain areas of the country.  If you are buying a property in the West Country, you may wish to undertake a Tin Mining Search, for instance.  Brine Searches can be required in Cheshire, and Coal Mining Searches can be required in areas of areas with a history of coal mining.  Chancel repair searches can be required if you are buying a property which is near a medieval church.  We can advise you of the costs of these searches if they are relevant. 

Stamp Duty

This is no more than indirect taxation by the Government.

Property Value                             Fee Payable to Inland Revenue

Under £125,000                            Nothing

£125,001 - £250,000                   1% of the total price

£250,001 - £500,000                   3% of the total price

£500,001 +                                  4% of the total price

Final Searches

Land Registry and Land Charges (Bankruptcy) searches are done just prior to completion to protect you and your mortgage lender.  They check that nothing has changed in connection with the property or yourself.  The Land Registry search costs £4.00, and the Bankruptcy search costs £2.00 for each name on the new mortgage.

Other Costs

We will send the completion monies to your Seller by telegraphic transfer on the day of completion. A bank charge of £29.38 plus VAT is levied for this facility.

Other Leasehold costs

If you are purchasing a leasehold property the Landlord may make certain charges over and above those shown. These would be a fee for receiving the Notice of Assignment and, if such provision is within the lease, a fee for dealing with a Deed of Covenant between yourself and the Landlord. If there is a Management Company in place there may be a fee for the issue of a share certificate in your name. We can advise you on the telephone if these are relevant considerations. As these are charges levied by a third party no estimate can be given for them at this time, although they are usually in the region of £58.75.

If a new lease is being granted to you there may be a small additional amount of Stamp Duty payable based on the ground rent and possibly also additional Land Registry fees.

Land Registry Fee

This fee is paid to the Land Registry to register your new ownership of the property and any new mortgage. 

Solicitor's Costs

These can vary from firm to firm, and from region to region.  We would recommend that you contact us to obtain a personal quotation based on your circumstances.  The quotation which you will be given is an estimate although we would only expect them to be higher in very unusual situations. We will advise you if such circumstances should arise and do our best to let you know what the costs may be.  At completion we will ask you to let us have sufficient funds to buy the property (once your mortgage is taken into account), and pay all the stamp duty, Land Registry fees and our own costs and VAT. We reserve the right not to complete if any funds remain unpaid prior to completion. 

Do we charge even when the transaction falls through?

We believe that offering a  "no sale-no fee" policy actually harms the transactions which do proceed, as we would have to raise our fees to cover costs.  We believe that the fairest way to deal with fees when the transaction doesn't complete for any reason is to make a small charge for the work which we have already done.  This will not be more than 65% of the original quotation, and we would hope to come to an arrangement which you are happy with.  We will also have to charge you for any searches or other disbursements which have been incurred.