All of the above fees are subject to additional charges for SDLT and Land Registry fees at the prevailing rates for the type and value of the transaction. Example Rates are given below (but for new shared ownership homes and staircasing specific rates may apply. Please contact us for further details)
An additional 3% of the full value is added if you will own multiple properties at completion. Rates for First Time Buyers vary as of November 2017, we will confirm if this applies to you.
Developer/Housing Association Solicitor Fees
In the case of nearly every new build property, a fee is charged by the developer’s solicitors for preparing the transfer deed (for a house) or lease (for a flat). Where properties are sold as part of a development it is essential for the obligations contained in these documents to be identical. To ensure this happens, the developer’s solicitors will prepare them. Normally it is the buyer that must pay the associated legal fee. The amount charged is approximately £180-£240 (including VAT) but varies from one developer to another.Landlord/Management Company Fees
With both re sale and new build leasehold homes there are usually notice fees to pay to confirm your details to the landlord and or management company and administrative fees payable for items required to be sent to or obtained from them such as Deeds of Covenant or Land Registry certificates. Any additional fees being charged by the landlord and or management company will be advised to you as soon as we have checked the title paperwork to your property as these vary from property to property and between different landlords and property managers.With Staircasing buying increased shares will cost more than the share itself
When it comes to increasing the stake in your property (Staircasing), it’s not just buying the share. There are other costs involved:Valuation Fee
Your housing provider will instruct a surveyor to confirm the current market value of the property.
Once we have your Memorandum of Staircasing from the Housing Association, we can confirm any SDLT payableMortgage Fees
If you are applying to change your Lender to buy your additional share, or to access better interest rates, you will need to pay the Lenders valuation fee and a mortgage arrangement feeNotice Fees
If you are changing lender or purchasing a final share there may be notice fees to pay to the Housing Association or Management Company to advise them of the change in details.
Additional Search Fees
Sometimes you will need more than just the standard Searches. Click HERE
to read more about additional searches and when they are required.Additional Conveyancing Fees
Sometimes extra work is required which is unknown at the outset. Click HERE
to see what could possibly be added.
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