Manchester's Leading Developer

Building Manchester For 28 Years

ACQUISITION COSTS

In addition to the purchase price, acquisition costs are incurred when purchasing a property.

Stamp Duty Land Tax

Stamp Duty Land Tax (SDLT) is levied at different rates depending on the value of the land or property and its use.

From December 2014, the method for calculating SDLT on the purchase of residential property changed to a progressive system. This means that the rate only applies to the amount of the purchase price that falls within a particular band.

From 1st April 2016, a further 3% surcharge, on top of the existing progressive rate, was introduced for the purchase of additional residential properties, such as buy-to-let properties and second homes. Even if you own a property outside of the UK, this will count as your first residence and subsequent purchases in the UK will attract the surcharge.

Those exempt include persons purchasing their first property or homeowners moving from one of those main residences to another. This 3% surcharge applies to relevant purchases where the exchange took place after 25th November 2015 and completed on or after 1st April 2016.

Purchase Price Rate on band for first-time buyers
(progressive rate only)
Rate on band for buy-to-let or second property investors
(including additional 3% levy)
Up to GBP 40,0000%0%
GBP 40,0001 – GBP 125,0000%3%
GBP 125,001 – GBP 250,0002%5%
GBP 250,001 – GBP 925,0005%8%
GBP 925,001 – GBP 1.5 million10%13%
Above GBP 1.5 million12%15%

If you purchase the property directly into a company and it is not caught under the ATED legislation then the same rates of tax will apply. We recommend that you consult a tax advisor or lawyer to understand more about exemptions.

SOLICITORS

Legal Fees/AIL Recommended Solicitors

Legal Fees cover the costs of hiring legal representation to conduct the conveyancing on your property. There is no standard industry fee as each solicitor sets their own rates. In addition, if you are financing the purchase of your property with a mortgage you may also have to pay your lender’s legal fee.

Please see page 9 for Alliance Investments recommended solicitors details. Each team provide exceptional, professional, friendly service ensuring all purchasers experience a simple, stress free conveyancing process where their unit is secured via exchange as swiftly as possible as per the agreed terms of their reservation. Our recommended firms have been carefully selected to ensure they are also able to represent the majority of lenders preventing unnecessary additional legal costs for clients purchasing with a mortgage.

Fees are competitively priced and available on request from your sales representative.

PLS Solicitors | Rob Thomas & Team | 0161 413 5378
investors@pls-solicitors.co.uk | www.pls-solicitors.co.uk

Recommended Chinese Solicitors:

JMW | Ann Wong & Team | 0345 872 666
teamAW@jmw.co.uk | www.jmw.co.uk

Montecristo LLP | Ardeshir Matini's & Team | 020 7164 6234 (option 1)
property@montecristollp.com | www.montecristollp.com

FINANCE

Mortgage Costs / Valuation Fee

Mortgage costs include the arrangement fee charged by lenders along with a possible valuation fee. Should you choose to use a mortgage broker to assist secure the best product for you fees may vary as there are no standard industry rates.

Alliance Investments recommended brokers details are show below. Our recommended team are ready to offer their assistance and guidance to help source the best possible mortgage product for you. Whether it be a brief initial conversation for additional reassurance or to begin the first stages of processing a mortgage, the team are happy to help. Should you wish to schedule a call simply click here or contact the team direct on the below details to discuss your options further.

Fees are competitively priced and available on request from your Sales Representative or a member of our Aftersales Team.

Liquid Expat Mortgages:

John Squires | 0161 871 1216 | john@liquidexpat.com | www.liquidexpatmortgages.com

GLOBAL CURRENCY EXCHANGE & MONEY SERVICES

Transferring funds to solicitors required for exchange and completion can, on occasion be a challenging experience, especially where funds are being transferred from overseas. Alliance Investments recommended global currency exchange and money services company are available to provide a stress free, simple service preventing any unnecessary delays and potential legal issues due to a late transfer. Whether it be a brief initial conversation to discuss their services or to begin the first stages of securing the best transfer rate, the team are happy to help.

Fees are competitively priced and available on request from your Sales Representative or a member of our Aftersales Team. Should you wish to contact the GCEN team ahead of our introduction see below details.

GCEN

CGEN Team | 01622 816 940 | ail@gcen.com | www.gcen.co.uk

FURNITURE

Furniture Packs

In order to maximize you rental income, it is recommended for you to furnish you apartment, the cost of which can vary depending on the size of the apartment and the type of pack chosen. We have worked hard to achieve fantastic, creative, development specific furniture packs for you to choose from where you can recreate each image as shown in our brochures.

Furniture packs are competitively priced and available on request from your Sales Representative or a member of our Aftersales Team.

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