Expenses on a Purchase

 

For more information or a comprehensive quotation without obligation please contact:

 

 

telephone : 02476 553181

 

 

email :

 

conveyancing@s-law.co.uk

 

 

When buying a property there are a number of expenses which have to be paid to other parties. Typically they are as follows:-

1. In Coventry we will carry out searches with the Local Authority, the Water Authority, the Coal Authority and the Environment Agency. The total cost of these searches is normally around £200.00 in total.

2. We are required to check that you are not bankrupt and make certain that no one has lodged a prior claim on the property at the Land Registry. The cost of these searches generally is around £10.00

3. When we register your ownership at the Land Registry a fee is charged by that agency to effect the registration. The fee does depend upon the purchase price. The scale is as follows:-

Value  or Amount                                                                         Fee
0                          -            50,000.00                                             £40.00
50,000.01          -            80,000.00                                             £70.00
80,001.00          -          100,000.00                                           £120.00
100,001.00        -          200,000.00                                           £190.00
200,001.00        -          500,000.00                                           £270.00
500,001.00        -       1,000.000.00                                           £540.00
1,000,001.00      and over                                                          £910.00
 

4. Banks make a charge for transferring money on the same day to the sellers solicitors on completion. The fee for this is £36.00 inclusive of VAT.

5. Stamp Duty Land Tax.  This is a tax payable upon the amount of the purchase price.   For more details follow the link to H M Revenue & Customs

6. Whether or not Stamp Duty Land Tax is payable we are require to submit a lengthy form to H M Revnue & Customs upon completion.   We do make an administration charge of £60.00 including VAT for this.

These expenses are in addition to the legal fees payable to Sarginsons Law LLP.

23rd February 2019

Sarginsons Law