Real Estate Law FAQs
Property transactions, leases, and real estate disputes
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Typical property purchase costs include:
- Stamp Duty Land Tax (SDLT): 0-12% depending on property value
- Solicitor Fees: £800-2000+ depending on complexity
- Survey Costs: £400-1500 depending on property type
- Mortgage Arrangement Fees: £0-2000 from lenders
- Land Registry Fees: £50-900 depending on property value
- Local Authority Searches: £200-400
Total costs typically range from 2-5% of the property value.
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| Aspect | Freehold | Leasehold |
|---|---|---|
| Ownership | Own property and land outright | Own property for fixed term, land owned by freeholder |
| Responsibility | Responsible for all maintenance | Pay ground rent and service charges |
| Duration | Forever | Fixed term (typically 99-999 years) |
| Value | Generally higher value | Value decreases as lease shortens |
| Permission Needed | None for alterations | Freeholder permission often required |
Most houses are freehold, while flats are commonly leasehold.
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