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What costs and fees should we expect to incur?

We recommend you budget around £5k-£10k for the following costs:

  • We charge £2,000 for our arrangement / processing fee. This is to cover the large amount of work we undertake in processing all the information relating to your application, performing various checks, dealing with all of the third-party providers involved and setting up your agreement.
  • You should budget at least £1,400 plus VAT, plus disbursements for your solicitors' fees.
  • You should also budget up to £1,400 plus VAT, plus disbursements for PLC's solicitors' fees.
  • Survey and valuation costs are usually £600-£1,000, depending on the property size and value. You may also be required to pay for additional specialist reports if the Surveyor highlights any potential issues outside of their expertise.
  • Depending on the purchase price, you may be required to pay Stamp Duty on the lease. Your solicitor should advise you on how much this could be.
  • You will not be required to purchase your own building's insurance, instead your property will be included in Pfida’s SafeNest Scheme, which covers all the homes we purchase. There is an annual fee for the SafeNest scheme which will be communicated to you at the start of each policy year.  
  • Where the seller cannot provide valid satisfactory gas and electrical certificates, we will require you to arrange these checks prior to exchange of legal contracts, any concerns raised may need to be addressed prior to completion at your cost as mentioned above.