Costs when buying Property in Jersey
Before you start to house hunt in Jersey, make sure you know how much your costs will be to complete your purchase.
Here is a overview of what to expect in terms of payable fees:
Legal fees – these vary, it used to be 1% of the purchase price but now depends upon the law firm you instruct. Please contact QRC so we can advise you of the law firms that we recommend.
Stamp Duty – The current standard stamp duty rates payable are as follows, First time buyers where they meet the qualifying criteria pay only nominal StampDuty/Land Transfer Tax for purchases below £450,000. Full details on how Stamp Duty is calculated can be found here.
Local Searches/ Enquiry letters – Your lawyer will conduct also searches of the local statutory authorities and utility companies, the relevant Parish and the Population Office. The cost of these searches is currently approximately £330 plus Goods Service Tax (GST).
Legal Fees – these fees typically range from between £300 to £600. Your lawyer may also make a charge for providing a certificate of title to the lending bank. The Population Office currently charges £70 for the provision of a Housing Consent.
QRC work with a number of Specialist Advisors in this area so please contact us for recommendations:
Office: +44 (0)1534 854574