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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'S BLOG

Philip Jackson

Make, the Ken Shuttleworth leading international firm of architects recently reported that whilst studying their likely marketplace for an edge of City Centre quality residential scheme in Mumbai identified an audience of increasing numbers of a type of City dweller, a group we too have identified here in Birmingham.