holidayhomeinformation.co.uk

Item

Indicative Cost

Tax advice

£200-400 plus VAT

Conveyancing (the legal work)

£400-800 plus VAT

Local Authority & Environmental Searches

Depending on searches undertaken but likely to be around £200

Valuation

Depends on value of property but likely £200-750 plus VAT

Survey

Depends on type of survey and value of property.  Cost is usually combined with valuation to total £500-£1500

Deposit

Depends on amount to be put down

Stamp Duty

Depends on value of property but (as of July 07) the values are:

For properties £0-£125,000:  0%

For properties £125,000-£250,000:  1%

For properties £250,000-£500,000:  3%

For properties over £500,000:  4%

Up to date rates can be found at http://www.hmrc.gov.uk/so/rates/index.htm

Land Registry Fees

Calculated on purchase price and between about £200 for a house worth £200,000 and £800 for a property worth £1,000,000

A free calculator is available at:

http://www.landreg.gov.uk/online/feecalc/

Mortgage Arrangement fee

Depends on lender and mortgage product

Mortgage Indemnity Insurance

Sometimes charged where there is a high mortgage value in comparison to the purchase price.  The rate will depend on lender and mortgage product