Mortgages

The day you receive our formal Offer of Advance will be memorable. The day you finally move in will be indelible. But the time in between is often just stressful.

Here we've prepared a list of the things you need to plan for...

Stamp Duty

Less popular than the poll tax, but unfortunately, it's the law...

• 1% for properties over £125,001
• 3% for properties over £250,001
• 4% for properties over £500,001.

Stamp duty is not applicable in certain areas - you should contact your solicitor for further information.

Solicitors' fees

You can't move without a solicitor to draw up a legal contract between yourself and the seller (through their solicitor). Fees vary, but plan for £399 approximately.

Land registry fees

The most important document after the contract is the title deeds - which show that the seller legally owns the property you're about to buy. When the purchase is completed, the title deeds will be handed over to your solicitor. Your solicitor then needs to record the change of ownership on the Register at the Land Registry. The Land Registry records pretty much every piece of land in the UK. The fee to change ownership depends on the purchase price and costs from £40 up to £800 e.g. if the purchase price is between £100,001 and £200,000 the fee is £150.

Local search fees

Is that a high-security prison being built over the road? By conducting a local search you find out what, if any, building work is planned in the neighbourhood, your property's situation vis-à-vis planning permissions, roads etc, and other important information that governs the property. The cost is £100 approximately.

Local water authority search

Is your house built on a swamp? This search will tell you, and costs about £35.