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Property for Pensions – Acquisition & Associated Costs

Here is a typical example of a Property for Pensions acquisition… being a long leasehold apartment for £135,000:

  • Property for Pensions search fee £0
  • Acquisition of property at £135,000
  • Government Stamp duty 1% £1350
  • Surveyors valuation fee £600 + Vat *
  • Conveyance lawyers fee £1250 + Vat *
  • Furnishing for Letting £3-7000*

On going costs & income:

  • Service Charge inc Block insurance £1200pa**
  • Ground Rent £150pa
  • Government Stamp duty 1% £1350
  • Income when let £775pm ( £9300pa)

If the property was vacant & immediately able to be let the Maguire Jackson agency costs will be 100% of the first month if we manage + 4% per month thereafter

If the property is fully let & managed by Property for Pensions/Maguire Jackson there will be a fee of 4% + vat of the rent as an ongoing cost.

We have not discussed the financial structure of this acquisition as this will change on a case by case basis depending upon what has been recommended & advised by the financial advisors

* These fees can vary depending upon your professional/supplier
** These apply to leasehold properties


Philip Jackson

With the number of tower cranes being counted, rising across the City centre, Birmingham is certainly looking like a City changing shape. The relocation of new staff inwards also continues apace, filling the bigger accounting banking & legal firms with new professionals and those already here are putting down more roots ,with the owner occupy market demand stiffening for well-located lofts and apartments.