What costs do I need to budget for when buying premises?

• The initial purchase cost (for a freehold) or lease premium (for a lease).
• Stamp Duty Land Tax and Land Registry fees (see 5).
• Professional costs for your solicitor and surveyor.
• Any initial alterations, fitting out and so on.
• Prepayment of initial rental (for leased premises).
• Prepayment of some other annual costs such as insurance (see 4).

Related Resources

in the Legal Information Centre

• What are the advantages and disadvantages of buying a freehold compared to a lease?
• What restrictions are there on how I can use or alter premises I buy?
• How do I find out what the continuing ownership costs are likely to be?
• How high are stamp duty land tax and land registry fees?