Chambers Publication

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2 Guide to moving home
© Copyright Glaric Consultancy Ltd. 2016
It is inevitable that when you buy or sell a property you will attract
costs and you will find listed below the majority of those applicable.
The actual amounts will vary and are dependent upon the price of
the property being sold or purchased.
Selling a Residential Property
Estate Agents Costs – These are calculated as a percentage of the
sale price. When you first put your property onto the market, your
agent will have agreed with you a percentage commission which
would include all the marketing and advertising activity associated
with selling and promoting your home.
Energy Performance Certificate – This is now a legal requirement
and your agent will arrange to have this carried out. Costs will be
relevant to the size of your property.
Legal Costs – These are associated with all the work your Solicitor
will carry out during the conveyancing process and will be agreed
before you instruct them.
Purchasing a Residential Property
Deposit – Once again a variable, however, this is the amount your
mortgage provider will require you to pay as a down payment in
order to receive a mortgage offer.
Mortgage Valuation/Survey – This is an area you need to think
about as you have three options.
1) The Valuation Report only covers the mortgage provider.
It will not tell you about any structural defects or other
problem areas which could undermine your investment.
2) The HBSA is a more detailed report and whilst costing
a little more does provide a much more in depth analysis
of your proposed purchase.
3) The Structural Survey is advised for older property or in
areas where there are known problems, such as
subsidence.
Mortgage Booking/Application Fee – This is a fee levied by your
mortgage broker for setting up the mortgage and acting on your
behalf. The cost can vary, but will be identified at the start of the
process.
Stamp Duty Land Tax – This is a variable percentage which is
payable to the government and is based on the selling price of
your property. Currently the rates are 0% for properties under
£125,000, up to 7% for properties over £2,000,000. Full details
can be found on
There may be other costs associated with the purchase of a
property, however, the ones listed above are the major areas you
should be aware of.
What costs can we expect in the sale or purchase
of a Residential Property?