Moving Fees

John_G66

Could someone please give me a ball park figure on the costs involve to move,
selling my house for £225k and purchasing a house for £175k with a deposit of £125k.

No need to include removal fees just all the others,

Cheers.........

Doozergirl

Sale
Estate Agent's fees @ 1% plus VAT = £2643.75
Solicitor's Fees = £570 (inc VAT)

Purchase
Stamp Duty = £1750
Solicitor's Fees = £570 (inc VAT)
Searches = £225
Survey = £300
Arrangement Fee = £200-500
Valuation Fee = £250?

What's that then? About £5,00k

I'm totally woolly on valuation and arrangement fees as it's totally down to the lender I'm also really tired and liable to have missed something so please, someone add the stuff I've forgotten!

John_G66

Doozergirl wrote:

Sale
Estate Agent's fees @ 1% plus VAT = £2643.75
Solicitor's Fees = £570 (inc VAT)

Purchase
Stamp Duty = £1750
Solicitor's Fees = £570 (inc VAT)
Searches = £225
Survey = £300
Arrangement Fee = £200-500
Valuation Fee = £250?

What's that then? About £5,00k

I'm totally woolly on valuation and arrangement fees as it's totally down to the lender I'm also really tired and liable to have missed something so please, someone add the stuff I've forgotten!

Thought stamp duty was only paid on a certain threshold ?

Long time sice I bought a house !!

socks_uk

The first 'step' for stamp duty is £120,000. No stamp duty below that price that's why I'm buying one for £115,000.

Not sure what the next 'step' is because I can only afford a house below £120,000.

Jill

NastyMatt

Stamp duty as follows:

£150k - £250k = 1%
£250K - £500k = 3%
> £500k = 4%

I am currently looking for a place about £300k.. I'll be writing a cheque out for £9k in stamp duty.. and what exactly do I get for that? Sweet FA...

Doozergirl

NastyMatt wrote:

Stamp duty as follows:

£150k - £250k = 1%
£250K - £500k = 3%
> £500k = 4%

Not quite; it's

£120,001 - £250,000 = 1%
£250,001 - £500,000 = 3%
£500,001+ = 4%

In areas highlighted as being 'disadvantaged', the starting price is £150,001.

[Deleted User]

Doozergirl wrote:

Not quite; it's

£120,001 - £250,000 = 1%
£250,001 - £500,000 = 3%
£500,001+ = 4%

In areas highlighted as being 'disadvantaged', the starting price is £150,001.

Sorry Doozergirl. The way you show this implies that the first 120K is exempt. I think stamp duty is payable on the total amount of the purchase price if it exceeds 120,000. But you're quite right - the first 250K is at 1%.

Doozergirl

Not quite sure how I managed to imply that, considering the amount I told the OP he'd have to pay in my first post, but thanks for clarifying. I didn't make it clear.

Doozergirl

Aaargh! I could just kick myself :wall:. We just missed out on a property at auction yesterday and after a terrible thought :doh:, I've just checked the postcode and it's a qualifying area. We didn't want to go above £140,00 with Stamp Duty and fees but we'd never have had to pay it. Means we could have gone higher after all.

So much for research. It was such an exciting prospect aswell.

[Deleted User]

Doozergirl wrote:

Aaargh! I could just kick myself :wall:. We just missed out on a property at auction yesterday and after a terrible thought :doh:, I've just checked the postcode and it's a qualifying area. We didn't want to go above £140,00 with Stamp Duty and fees but we'd never have had to pay it. Means we could have gone higher after all.

So much for research. It was such an exciting prospect aswell.

Never mind - they'll be other properties!!! As a matter of interest, what was the final bid price? And, how do you find out if a property is in a qualyfying area? I had no idea about this until you mentioned it in this thread.

NastyMatt

Ok I was stating in general.. but here is the full explanation:

http://www.digita.com/tiscali/home/pockettaxguide/taxguidestampduty/default.asp