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No matter how you choose to finance the purchase of the property, there will always be some unavoidable costs and expenses. The following is an
indication of the most significant costs that you are responsible for paying. (Costs, in particular legal fees, will vary depending on the specific
transaction in question).
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Valuation fee2
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Valuation fees are paid by the applicant and calculated at a rate of £1 per £1,000 (min. £150) plus VAT and is normally payable upon application.
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Cheques should be made payable to Ahli United Bank (UK) PLC.
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Local Search Fee1/2
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We understand that this will vary between approximately. £80 and £200.
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Land Registry Fee
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A scale of charges applies dependent upon the sale price of the property. e.g. The fee for property purchased for £100,000 would be
approximately £200. Your solicitor will provide full details on request
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Solicitor’s Fees2/3
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The Law Society does not permit one firm of solicitors to act for both you and us and so you should budget for two amounts of solicitor
fees, our and yours. AUBUK’s solicitor’s fees are as follows:-
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Property Purchase
| Up to £125,000 | | £346.63 |
| £125,001-£250,000 | | £440.63 |
| £250,001-£350,000 | | £581.63 |
| £350,001-£500,000 | | 0.175% of the property value |
| £500,000+ | | 0.20% of the property value |
All fees quoted are excluding VAT.
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Application Fee
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0.75% of the finance amount. Payable on or before completion.
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Stamp Duty 4
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Calculated on the purchase price of the property between us and you, at the following rates:-
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0% of the sale price from £0 to £125,000
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1% of the sale price from £125,000 to £250,000
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3% of the sale price from £250,000 to £500,000
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4% above £500,000
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In certain disadvantaged areas properties are exempt from Stamp Duty Land Tax up to the value of £150,000.
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1 This fee can vary from council to council.
2 These fees are subject to VAT (currently 17.5%).
3 Plus sundry disbursement costs where applicable (courier charges, etc.).
4 Correct as at 23rd March 2006.
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YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP MONTHLY PAYMENTS ON YOUR HOME PURCHASE PLAN
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