Stamp Duty and extra costs

J

Jane07

Guest
Hi All,
Hoping to buy a site in the next few weeks. What is the percentage of Stamp Duty that has to be paid? Also can someone please let me know what the extra costs are when it comes to buying a site/getting a mortgage/solicitors fees? All these things seems to be adding up to be quite alot. Any information would be really appreciated.
Thank you.
 
I should have included in my last comment above - I am hoping to buy a site and build on this site. When I buy the site I hope to buy a few acres of agricultural land too. Will I just have to pay stamp duty on the cost of the site and NOT on the cost of the site PLUS the agricultural land??
 
You will pay stamp duty on all of the land you purchase. I don't understand why you seem to think there would be no stamp duty on the agricultural land?

So - you have land costs plus stamp duty plus solicitors fees totalling X - how are you funding this figure? Do you have savings or are you borrowing? How much? And how are you going to fund the build project?

I suggest you talk to the bank first and see how much they would be willing to lend you.

mf
 
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