Disbursements

Stamp Duty Land Tax (SDLT) Rates 

(usually calculated on the purchase price of the property but there are considerable complexities in the SDLT regime for transactions which are not absolutely straight forward) - there is still possible relief for residential properties if it is in a designated 'disadvantaged area' - check the Inland Revenue website

Land Registry Fees

(usually calculated on the purchase price of the property - in some instances a reduced fee may apply -different rates apply e.g. transfers not for value, mortgages where there is no simultaneous transfer -  this list is not exhaustive

Other likely disbursements.

On sale 

Obtaining up to date certified copies of your deeds and plan from the Land registry (Office Copies)

£8 (there may be additional cost if copies of additional deeds have to be obtained)

TT / Chaps fees. This is the cost charged  for electronically transferring money on the day of completion. Typically, your solicitor may have to send money to your Bank or Building Society to repay your mortgage and, you may have instructed them to send the balance to your bank in this manner. 

The charge is likely to be in the region of £25 + Vat for each electronic transfer

Your Bank or Building Society may charge you an administrative fee for producing your deeds to your solicitor and for dealing with the documentation to redeem the mortgage. This will usually be added to your account

Purchase

Search fees. Typically these are for  - 

the Local Search (see our jargon explained page).

The cost depends upon which Local Authority the property you are buying comes under. The cost may range from £80 to as high as £130

bankruptcy search fees -where you are borrowing money your Solicitor will have to carry out a search to check that you are not Bankrupt. The cost is £1 for each name searched -

TT / Chaps fees - as in sale above. Typically there will be one electronic transfer of the completion money to your Seller's