Guy Fisher Property Consultants - 020 7435 3456 or 020 8421 9800

THIS INFORMATION PAGE COVERS ALMOST EVERYTHING THERE IS TO KNOW ABOUT BUYING, SELLING AND RENTING. IF IT'S NOT HERE, JUST PICK UP THE PHONE OR EMAIL AND WE'LL DO OUR BEST TO HELP.

COSTS OF BUYING:

SOLICITOR’S FEES: There is no rule of thumb as far as conveyance costs are concerned.The average cost appears to be anything from ¼% to 1%,plus VAT, depending on the size of the transaction and which firm of solicitors you chose to use. My advice is to use a solicitor that you have used before, assuming they did a good job, or ask a friend for a recommendation. Always ask the solicitor for a quote, preferably written, before any work commences and always ask for a breakdown of costs after the purchase. The Law Society is the governing body for solicitors.

Residential land or property SDLT rates and thresholds

If the value is above the payment threshold, SDLT is charged at the appropriate rate on the whole of the amount paid. For example, a house bought for £130,000 (by someone who is not a first-time buyer) is charged at 1 per cent, so £1,300 must be paid in SDLT. A house bought for £350,000 is charged at 3 per cent, so SDLT of £10,500 is payable.

First time buyers

The first time buyer’s £250,000 threshold applies from 25 March 2010 up to 24 March 2012 inclusive.

HOUSE DEPOSIT: 5% to 10% of purchase price. This is the figure paid by the purchaser to the vendor via the solicitors upon exchange of contracts. The size of the deposit will be agreed prior to exchange of contracts. Occasionally, the vendor may ask if they can use this deposit to fund an exchange of contracts on their purchase but this must be agreed between the solicitors at the time.

ESTATE AGENT’S DEPOSIT: (if applicable): £100 – any agreed amount and may be subject to VAT. The deposit is not legally binding. Get a signed and dated receipt.

LENDER’S FEES: Lender’s arrangement fees - Anywhere from £250 to a percentage of the loan required. Not really sure why they charge this but they do! Lender’s legal fees - From £200 (+VAT). Lender’s valuation fee - From £110 (+VAT) depending upon the size of loan. Mortgage Indemnity Guarantee (MIG) - min. £100 upwards. (First Time Buyers expect to pay £400 to £750 dependant upon the percentage of mortgage (loan to value) required.The higher the percentage, the higher the MIG.

VALUATION FOR MORTGAGE PURPOSES: From around £200 plus VAT. This figure depends upon the size of the loan required. Some lenders offer a free mortgage valuation as part of a promotion for the product. Some will charge around 1% of the purchase price.
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HOME BUYERS REPORT AND STRUCTURAL SURVEYS: The figure quoted by surveyors to carry out these types of surveys will depend upon the size of the property. Best to speak to two or three surveyors to ascertain a price.

DISBURSEMENTS: Local Authority Fee - approximately £75 Land Registry Fee - The Land Registry calculates their fee using their ‘Scale 1’ fee calculator and can range from £30 - £800 dependant upon the amount or value of the property. Your solicitor will be able to tell you this fee. HIP's will normally contain all the information your solicitor needs.

REMOVAL COSTS: From £300 plus. These costs are unique and dependent upon the amount of furniture being moved, distance and storage. (Get quotation)

UTILITIES: Gas - Reconnection Costs. (Get quotation). Electricity - e.g. Connection of new cooker circuit. (Get quotation). Telephone - New line (£25+VAT (Cable), £125+VAT (BT)) or transfer of existing phone number (£10 +VAT). Mail - Redirect to New Address - £6 per month. Although this doesn’t always work! Water - Any necessary plumbing. (Get quotation). Most utility companies will not disconnect the supply if the property you are moving into has just been occupied but you will still need to notify them of your move.

COSTS OF SELLING:

ESTATE AGENTS FEE: This can range from 1% to 3% of your property's value and subject to VAT. You will find that commissions will vary depending upon the area you live and the competitiveness of the local agents. Some agents may charge less than 1% but then again, you get what you pay for!

SOLICITOR’S FEES: As with buying, there is no rule of thumb as far as conveyance costs are concerned. The average cost appears to be anything from ¼% to 1%, plus VAT, depending on the size of the transaction and which firm of solicitors you choose to use. My advice is to use a solicitor that you have used before, assuming they did a good job, or ask a friend for a recommendation. Always ask the solicitor for a quote, preferably written, before any work commences and always ask for a breakdown of costs after the purchase. The Law Society is the governing body for solicitors

REMOVAL COSTS: From £300 plus. These costs are unique and dependent upon the amount of furniture being moved, distance and storage. (Get a quotation)

SELLING PRIVATELY: Selling privately is always an option. Of course one can be driven to try and save a few thousand pounds rather than concentrating on the bigger picture of trying to obtain the best price for your home. I would suggest that you consider the following. One of the many advantages of using an estate agent is that it puts them between you and the buyer; the agent is less emotional – an important factor when negotiating the purchase price! The agent will have a catalogue of serious (and not so serious) buyers, which they can call as soon as your house comes to the market - YOU DON’T. If you choose to advertise privately, it is unlikely that you will benefit from the discounts usually given to estate agents by the various magazines and newspapers due to the frequency that that agent advertises. The agent should also be in a position where they would have vetted the enquiries they have and the new one’s coming in so hopefully the time wasted is minimal. More valuable is the fact that the agent is on call 9 hours a day and usually 6 days a week to show your home and you are NOT, unless of course you have taken a month or two off work to deal with selling.

The landlord is expected to carry out a Gas Safety Check and EPC before the tenant/s moves in. In addition, the landlord will pay for and carry out an inventory check-in.

When a tenant submits an offer on a property and that offer is acceptable, the tenant is expected to lodge a deposit with the agent. Normally the holding deposit is 1 week's rent and will go towards any rent payable. In addition, the tenant is expected to pay for references and a contract administration fee (from £50, plus VAT per tenant for the references and £100, plus VAT for the contract administration fee).

When the tenant vacates, they will be responsible for the cost of cleaning the property and the inventory check-out.

Energy Performance Certificates tell you how energy efficient a home is on a scale of A-G. The most efficient homes - which should have the lowest fuel bills - are in band A.

The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions.

The average property in the UK is in bands D-E for both ratings. The Certificate includes recommendations on ways to improve the home's energy efficiency to save you money and help the environment.

IMPORTANT:

Guy Fisher Property Consultants has secured the services of EPC providers, Inventory Clerks and Gas Safety Tradesmen. This means that we can negotiate the BEST price for these services and this saving is passed directly to our clients. We earn enough on our fee and don't feel the need to earn extra unlike some other agents (who shan't be mentioned!).

COMMERCIAL PROPERTY LEGEND / USE CLASSES:

Use Classes	Use/ Description of Development	Permitted Change
A1 Shops	Shops, Retail Warehouses, Post Offices, Ticket and Travel Agents, Hairdressers, Funeral Directors & Undertakers, Domestic Hire Shops, Dry Cleaners, Sandwich Bars – Sandwiches or other cold food purchased and consumed off the premises, Internet Cafés and Cyber Cafés.	No Permitted Change except to mixed use as a shop and single flat and vice versa.
A2 Financial & Professional Services	Financial Services (Banks, Building Societies and Bureau de Change), Professional Services (excluding Health or Medical Services) (Estate Agents and Employment Agencies). Other Services – Betting Shops. Principally where services are provided to visiting members of the public.	A1 (where there is a ground floor display window) plus as above.
A3 Restaurants & Cafes	Restaurants, Snack Bars and Cafés – Use for the sale of food for consumption on the premises.	A1 or A2.
A4 Drinking Establishments	Use as a Public House, Wine-Bar or other Drinking Establishment. The primary purpose is the sale and consumption of alcoholic drink on the premises.	A1, A2 or A3.
A5 Hot Food Takeaway	Use for the sale of hot food for consumption off the premises.	A1, A2 or A3.
B1 Business	a) Offices rather than in a use within Class A2 (Financial and Professional Services). b) Research and Development – Laboratories, Studios. c) Light Industry.	B8 (where no more than 235 Sq M).
B2 General Industrial	General Industry (Other than Classified as in B1). The former ‘Special Industrial@ Use Classes, B3 – B7, are all now encompassed in the B2 Use Class.	B1 (unlimited) or B8 (where no more than 235 Sq M).
B8 Storage or Distribution	Storage or Distribution Centres.	B1 (where no more than 235 Sq M).
C1 Hotels	Hotels, Boarding Houses & Guest Houses. Development falls within this class if ‘no significant element of care is provided’.	No Permitted Change.
C2 Residential Institutions	Hospitals, Nursing Homes, Residential School and Training Centres. Use for the provision of residential accommodation and care to people in need of use.	No Permitted Change.
C2A Secure Residential Institutions	Use for a provision of secure residential accommodation, including use as a prison, young offenders institution, detention centre, secure training centre, custody centre, short term holding centre, secure hospital, secure local authority accommodation or use as a military barracks.	No Permitted Change.
C3 Dwelling houses	Dwellings for individuals, families or not more than six people living together as a single household.	No Permitted Change.
D1 Non-Residential Institutions	Medical & Health Services, Crèche, Day Nursery, Day Centres, Museums, Public Halls, Libraries, Art Galleries, Exhibition Halls, Non-residential Education and Training Centres, Places of Worship, Church Halls, Law Courts.	No Permitted Change.
D2 Assembly & Leisure	Cinemas, Concert Halls, Sports Halls, Swimming Baths, Skating Rinks, Gymnasiums, Bingo Hall. Other Indoor and Outdoor Sports and Leisure Uses, not involving motorized vehicles or firearms.	No Permitted Change.
Sui Generis	There are many use classes that are not specifically categorised by the four main use classes. These uses are classified as sui generic. For example: Petrol Stations, Retail Warehouse Clubs, Amusement Arcades, Launderettes, Taxi or Vehicle Hire Business & the Selling and Displaying of Motor Vehicles, Nightclubs, Theatres, Hostels, Builders Yards, Scrap Yards, Casinos.	No Permitted Change (except Casinos: permitted change from Sui Generis to D2)

COMPETITION RULES AND REGULATIONS:

1. These terms and conditions apply to all competitions featured on Guy Fisher Property Consultants (GFPC) website and e-newsletters and any other competitions organised by GFPC

2. By entering a competition entrants accept these terms and conditions together with any specific instructions and terms for such competition which may be mentioned in any electronic messages, or on the website or communicated to entrants in any other way (“competition information”). Such competition information shall prevail in the event of there being any inconsistency between these competition terms and conditions and any competition information.

3. GFPC may cancel or amend any competition, competition information, or these terms and conditions without prior notice. Any changes will be posted either within the competition information or these terms and conditions.

Competition Entry

4. The competition is open to all property owners, landlords, freeholders whose properties are in the following prefix postcodes – NW1, NW2, NW3, NW4, NW5, NW6, NW7, NW8, W1, W2, W9, W11, W14, HA1, HA5, HA7, HA8, WD6, WD7, WD23, EN5, N2, N12, N20, in the United Kingdom. There is no minimum age limit unless specified otherwise in the competition information. There is no maximum age limit.

5. Where the competition information specifies dealing with the legal owner / landlord GFPC will ask for a form of ID as part of their Fees and Terms of Business, a copy of which will be given (by hand, email or post) at the appropriate time. Entrants may only enter the competition in their own name.

6. The opening and closing dates and times for entries are as indicated in the competition information. Any entries received before the opening and after the closing of the competition will be invalid and will not be entered into the competition.

7. By entering the competition entrants warrant that all information submitted by them is true, current, and complete. Competition entrants also warrant that they are prepared to accept that GFPC’s will use publicity from a sale or rental and GFPC's use of such publicity will not infringe the rights of any third party.

8. Where indicated in the competition information, some competitions are only open to registered users of the www.guyfisher.co.uk website. There is no charge for registration.

9. Limited to one entry per property. Entries received in excess of this limit will be invalid and will not be entered into the competition. Where an owner owns more than one property in a building or portfolio, that entry will be limited to nomore than one.

10. Entry to the competition may only be made through the applicable method(s) indicated in the competition information. Not all of the following methods of entry may be available for entry to each competition. The following terms and conditions will apply where the method is indicated as being available in the competition information.

11. Neither GFPC nor its servants, agents, nor any other party or organisation involved in the management, promotion, or administration of the competition or its entry routes or donation of prizes or their agents or subsidiaries involved in the competition will accept responsibility or liability for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft, destruction, alteration of, or unauthorised access to entries, or entries lost or delayed whether or not arising during operation or transmission as a result of server functions (including but not limited to security functions by software used by GFPC or any third party), virus, bugs, or other causes outside its control.

12. Amazon Kindle TM Competition applies to all instructions received by March 1^st 2012 and that GFPC are instructed on either a Sole Agency, Sole Selling Rights, Joint Sole Agency (split fee) or Joint Sole Selling Rights (split fee). Multiple Agency instructions may not be included unless otherwise agreed to in writing between Guy Fisher Property Consultants and the owner. Entries submitted via sub-agents or third parties will not be accepted. Entries are submitted on the basis of one per property. Multiple properties owned by a single person / company will be treated as one entry. Prizes will be awarded once a property has been sold (successful completion taken place) or let (once tenant/s have moved in) and in all cases once payment of fees have been received and cleared funds received.

13. An entry to the competition will be deemed to be an invalid entry where an entrant has evaded payment of GFPC’s fees.

14. All owners, landlords, freeholders must accept, sign and return GFPC’s Fees and Terms of Business within 5 working days from the date of instruction. In the event of any fault, mistake, misunderstanding or dispute concerning the correctness or acceptability of the entry or any answers given by entrants (if applicable), or the operation of any part of the competition (in the case of postal entries, a postal strike for example), network or phone system, the decision of GFPC shall be final and no correspondence will be entered into.

15. GFPC will not be liable to reimburse expenses incurred in making an entry in any competition. Where GFPC decides in its sole discretion that an entrant is eligible for a refund, eligibility for refunds will be notified to relevant entrants. GFPC reserves the right to refuse to refund any messages where it suspects dishonest or fraudulent conduct on the sender’s part or where the entrant has not complied with the rules of the competition (for example, in exceeding the maximum number of entries).

Prizes

16. The prize is as specified in the competition information. Where the prize is no longer available for whatever reason, the winner will be notified in reasonable time and a suitable value alternative will be awarded. Where the prize involves a Holiday or Travel, whether in mainland UK or Abroad and necessitates travel on a specific date, the winner (and their companion(s) if applicable) must be able to travel on the date specified by GFPC and no alternative dates will be available. Where there are multiple people travelling, the winner and their companion/s must travel at the same time on the same itinerary. Where the prize involves travel or another experience on a date and/or destination to be chosen by the winner, the date and/or destination chosen is subject to availability and the prize must be taken within 12 months of the winner being notified of their win, unless specified otherwise in the competition information. The winner must provide GFPC with their preferred date and/or destination within 28 days of being notified of their win. GFPC will use reasonable endeavours to arrange the prize for the winner’s preferred date and/or destination, but these are subject to availability and GFPC reserves the right to require the winner to take the prize on alternative dates and/or to an alternative destination of GFPC’s choice. Where the prize involves travel to a destination outside the United Kingdom, GFPC will use reasonable endeavours to arrange direct flights from an airport conveniently located for the winner but may require the winner to fly from a London airport. The winner is solely responsible for travel to and from the UK airport specified by GFPC and all insurance, applicable taxes and for any costs, expenses and charges not specified as being included in the prize description in the competition information. The prize is subject to the terms and conditions of the manufacturer or supplier. No responsibility will held by the manufacturers of the products or services offered and all prizes will be supplied directly by/from GFPC subject to the terms herein.

17. The process for determining the winner of the prize is as indicated in the competition information. Where the winner is randomly selected from all correct and valid entries, the draw for the winner will where possible take place within 7 days of the date on which the competition closes.

18. Prize draw prizes may be awarded in accordance with the laws of chance and, if required by law or regulation, under the supervision of an independent observer. Any competition requiring a subjective assessment in the selection of winning entries will be judged from all valid entries by GFPC or as indicated in the competition information and, if required by law or regulation, an independent judge or a panel including one member who is independent of the competition's promoters and intermediaries. Selection of winning entries is final and no correspondence will be entered into.

19. Should more prizes be claimed than are available for any reason, a simple prize draw will take place for the available prize(s).

20. GFPC will attempt to notify the winner for up to 28 days after the closing date and time for entries to the competition, or as otherwise indicated in the competition information, and where time is of the essence for such a period as GFPC shall in its absolute discretion deem reasonable. He/she will be contacted on the phone number, by SMS text, e-mail, or postal address provided when entering the competition. The winner will have a specified fixed time period in which to claim his or her prize. If GFPC is unable to notify the winner, or if the winner fails to respond within the fixed time period as specified and/or provide an address for delivery of the prize, this may result in forfeiture of the prize and GFPC reserves the right to select an alternative winner in accordance with these terms and conditions and the competition information.

21. GFPC may in its sole discretion refuse to provide a prize, or seek its recovery, in the event of non-entitlement under these terms or an entrant's breach of these terms, GFPC’s website terms of use, fraud, dishonesty, or other inappropriate or improper conduct including but not limited to the use of technology which enables an entrant to evade charges when entering the competition or the improper use of technology when entering the competition, for example submitting a computer generated drawing where a human drawing is required. Where a competition can be entered online we reserve the right to refuse to provide a prize.

22. Any entrant who enters or attempts to enter the competition in a manner, which in GFPC’s determination, is contrary to these terms and conditions or is fraudulent or unjust to other entrants (including without limitation tampering with the operation of the competition, hacking, cheating, deception, or any other unfair playing practices such as intending to annoy, abuse, threaten, or harass any other entrants or GFPC and/or any of its agents or representatives), may be rejected from the competition at GFPC’s sole discretion.

23. GFPC reserves the right to modify, cancel, terminate or suspend the Competition in whole or in part, at its sole discretion, if it believes the Competition is not capable of being conducted as specified in these terms and conditions or in the event of a virus, computer bug or unauthorised human intervention or any other cause that is beyond the reasonable control of GFPC that could corrupt or affect the administration, security, impartiality, or normal course of the Competition.

24. GFPC reserves the right in its sole discretion to withhold delivery of the prize until such proof of eligibility and identity has been confirmed or if such proof is not produced on request or to disqualify the entrant from the competition.

25. GFPC endeavours to deliver the prize to the winner within twenty eight (28) days from the date of completion or the tenant’s move-in date, unless otherwise specified to the winner. Delivery restrictions may apply. No cash equivalent (where applicable) or alternative prize will be given and the prize is non-transferable and non-exchangeable. However, GFPC reserves the right to change the prize due to circumstances beyond its control or to offer an alternative of similar value.

26. In certain circumstances as decided by GFPC a cash alternative may be offered. Such circumstances may include (but are not limited to) the prize being inappropriate for the age of the winner, the prize including tickets to an event, the prize being no longer available.

27. Where the prize includes a cheque, such cheque will be made payable to the name of the winning entry in pounds sterling. A cheque prize cannot be made payable to any third party. No other form of payment will be made.

28. In relation to all competitions, the first name and surname of the winner may be published by GFPC. By entering the competition entrants grant to GFPC a non-exclusive licence to use and publish their entry in any media for the purpose of announcing the winner.

Data Protection and Publicity

29. GFPC (or any third party nominated by GFPC) may exercise its sole discretion to use the winner's (and (if applicable) their companion's) name, address, and image and their comments relating to the prize and competition experience for future promotional, marketing and publicity purposes in any media worldwide without notice or without any fee being paid.

30. Information, data and the caller line identity ("personal data") which is provided by entrants when they enter will be held and used by GFPC and their suppliers and contractors in order to administer the competition. If entrants call from a withheld caller line identity and do not provide their caller line identity when entering the competition, GFPC may use the withheld caller line identity for customer care purposes such as refunds or communications relating to a service e.g. to notify a winner. Entrants' personal data may also be passed to their mobile phone network or to relevant regulatory bodies including PhonePayPlus, the police or other authorities in the course of the investigation of any complaints or suspected unlawful activity or where requested by the phone provider in connection with the billing arrangements for the competition. Aggregate, non personal data may also be used for the purpose of undertaking market research or in facilitating reviews, developments and improvements to relevant services.

31. Any personal data will only otherwise be used in accordance with GFPC’s privacy policy.

Liability

32. Nothing in these terms and conditions shall exclude or limit GFPC's liability for death or personal injury caused by their staff or supplier's negligence or for fraud. Subject to this, GFPC cannot accept any responsibility for any damage, loss, injury or disappointment suffered by any entrant entering the competition or as a result of accepting any prize. GFPC is not responsible for any problems or technical malfunction of any telephone network or lines, computer on-line systems, servers, or providers, computer equipment, software failure of any email or entry to be received on account of technical problems or traffic congestion on the Internet, telephone lines or at any web site, or any combination thereof, including any injury or damage to entrant’s or any other person’s computer or mobile telephone related to or resulting from participation or downloading any materials in the competition.

33. GFPC cannot promise that the services relating to the competition will be free from errors or omissions nor that they will be available uninterrupted and in a fully operating condition. These services may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for reasons reasonably beyond the control of GFPC. GFPC will not be liable in the event that all or any part of the service relating to the competition is discontinued, modified or changed in any way.

Standard terms

34. In the event that any entrant does not, or is unable to, comply with and meet these terms and conditions and the competition information, GFPC shall be entitled at its sole discretion to disqualify such entrant, without any further liability to such entrant. In these circumstances, any prize(s) won by the entrant may be forfeited and GFPC reserves the right to reclaim any prize(s) already distributed to the entrant. Any entrant must comply with any directions given to him or her by GFPC.

35. The invalidity or unenforceability of any provision of these Terms and Conditions shall not affect the validity or enforceability of any other provision. In the event that any provision is determined to be invalid or otherwise unenforceable or illegal, these Terms and Conditions shall otherwise remain in effect and shall be construed in accordance with their terms as if the invalid or illegal provision were not contained herein.

36. Please note that calls may be recorded to ensure that competition entries are captured, for staff training and quality control purposes.

37. Kindle Devices are given away on behalf of GFPC and Amazon Sarl is not a sponsor of this competition. The prize does not include any subscriptions or memberships to Amazon Sarl and the acquisition of reading material is solely the users' responsibility.

38. These terms and conditions were last updated on 6 January 2012.

For more information, please call Guy Fisher on 020 8421 9800.