Expenses on extension of a lease

Expenses on extension of a Lease

Survey

A lender will carry out a basic survey but this does not deal with many structural issues or will not pick up issues such as damp. You may wish to get your own full independent survey that you have to pay for.

Removal Costs

You will need to also consider the costs of transporting your goods to and/or from the property.

Searches

If you are buying with the aid of a mortgage we have to carry out certain searches. There are also other optional searches. We recommend you carry out searches however even if you are not buying with a mortgage. For more information go to our Searches & Other Enquiries page.

Stamp Duty Land Tax

This is a form of tax that is payable upon transfer of the property to the Inland Revenue. The amounts payable are as follows:

Price of Property being purchased Percentage of Tax Charged
Under £125,000.00 (or £150,000.00 in disadvantaged areas) 0%
More than £125,000.00 and up to £250,000.00 1%
Over £250,000.00 and under £500,000.00 3%
Over £500,000.00 4%

Administrative costs of Landlord

On extensions the Landlord may have administrative costs that will have to be paid.

Notice Fee

If there is a new mortgage then a notice will be required and there will be a fee for that.

For a payment of £60.00 including VAT upon instruction, you can rest assured that should your conveyancing transaction fall through, for whatever reason, you will not be charged any solicitors fees. This fee is payable per transaction and therefore if you had a sale and purchase with us you would need to pay £60.00 for each.

Should your sale or purchase fall through without having taken the No Move/No Fee option we will charge a fee as is reasonable for the amount of work done by that stage.

A discount of £20.00 plus VAT (£24.00) is available on all transactions if you are one of the following:

  • First Time Buyer
  • Cash Buyer
  • Buy to let Landlord
  • Previous client (where we acted for over the last 3 years)

If you qualify for this discount, simply deduct this amount from your total online quote and advise us of your circumstances on instruction.

Terms and Conditions

Only one deduction per transaction (e.g if both cash buyer and buy to let landlord we deduct £24.00).

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