Stamp Duty
You must pay Stamp Duty Land Tax (SDLT) when you buy a property or a land over a certain value.
You must pay Stamp Duty Land Tax (SDLT) when you buy a property or a land over a certain value.
The current SDLT threshold is £125,000 for residential properties and £150,000 for non-residential land and properties.
You pay tax when you:
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Stage 4 – Survey
If you are applying for a mortgage then the lender will instruct a surveyor on your behalf. Some lenders however do not offer the option of a full structural.
Lenders Valuation Report – to value the property so the lender knows they can recoup their costs. This does not necessarily flag up any defects to you. On occasions the surveyor may not even enter the property.
HomeBuyers Report – this is a mid-range survey that will highlight urgent and major repair items and you will receive a report. This will also perform the required valuation report. Quite often you can instruct this through the lender and pay an increased cost over the basic valuation option.
Building Survey – the higher end of surveys provides a comprehensive inspection and report detailing advice on the repair and maintenance of your property. Major and minor issues will all be raised within this survey. A number of lenders do not offer this as an upgraded survey now and you may have to instruct this separately to a basic valuation. Your Regal Finance adviser will be able to assist in recommending a surveyor.
Get A Mortgage With Regal in 3 Easy Steps
Step 1
Complete an enquiry form and an advisor will call you back.
Step 2
Send us the documents we need.
Step 3
Receive a Decision in Principle from one of our lending panel.
