These vary tremendously from Solicitor to Solicitor,
and it is worth ringing round to obtain a selection
of quotes.
There are a series of set charges known as disbursements
that the Solicitor collects to obtain information to
advise you on the property purchase. Some of these vary
according to the price of the property.
Disbursements include a Local Authority Search, Coal
Mining Search, Environmental Searches, Land Registry
Fees and Stamp Duty.
Stamp Duty is expensive:
| £ |
% of Purchase
Price Charged |
| Up to £60,000 |
Nil |
| 60,001 to
250,000 |
1% |
| 250,001 to 500,000 |
3% |
| 500,001 |
4% |
Property transfers do not attract Stamp Duty.
Apart from Stamp Duty a typical £60,000 purchase
would be around £600 and £100,000 = £800,
including disbursements, but costs do vary and this
is for guidance only. Legal costs for selling is far
cheaper as the disbursements are not charged.
YOUR
HOME MAY BE REPOSSESSED IF YOU DO NOT
KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME.
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