Important Information about your MMi Conveyancing Quotation

Total Cost Changes: Your Total Costs may vary if there are fees or disbursements that change. But any changes will be covered by our YourTransaction page or this page

If the nature of your transaction materially changes then additional costs or disbursements may be charged. For instance if it transpires that we had quoted on a residential purchase which later turned out to be in whole or in part a commercial transaction then the costs would be on a commercial basis. If your costs were based on a certain purchase price and that price changed then the associated taxes will change - we have no control over these.

Our over-riding aim is to be transparent as regards all costs matters.

Fee Changes: The YourTransaction page explains a number of areas where additional charges may arise and our aim for clarity means that it includes what is covered by the work that we do and just as importantly what is not.  Where the circumstances behind an additional fee are complex there are links to the MMiExplains section of our website.  

We do all that we can to keep such charges to the minimum which is why we transparently set out the circumstances.  If there are circumstances that may lead to more substantial charges we will advise you and obtain your instructions. Charges may be rendered for necessary reprographics and electronic information retention. Remember that if you are obtaining a mortgage we must abide by the instructions that we are given by your lender.

Land and Buildings Transaction Tax (LBTT): is a charge (Stamp duty is the common name) levied by the Scottish Government on purchase transactions with a value in excess of £145000. You can find the actual rates here.

ADS: is a 6% charge levied by the Scottish Government on some purchase transactions.  You can find further information on the Revenue Scotland website linked to above.

Although ADS was widely seen as a "buy to let/additional home" 6% tax, the way in which it was introduced by the Scottish Government was complex; this meant that there are numerous possibilities where the tax will apply where purchasers of property may instinctively feel that it does not apply to them.  Further information about ADS can be found on MMiExplains

For some time MM have used their internally developed ADS expert App. This has now been extended to cover both ADS and FTB discount.

The expert App enables a prospective purchaser to establish whether ADS definitely applies, definitely does not apply or where it may apply depending upon a deeper analysis of the personal circumstances of the purchaser. It also provides an opportunity for an FTB (when available)  to establish whether the discount is available.

The use of this expert App is provided free of charge. However, if the output of the App suggests that circumstances exist where there is a possibility that ADS may apply, if you wish to use our personal Expert Review expert analysis then a fee is charged. This is entirely optional and details are shown within the App. You do not become liable for any fee without expressly confirming your intentions.

You can also purchase at a restricted fee use of the expert system now if you feel that your purchase decision hangs on whether ADS is due.

You can access the 

MMi ADS Expert System HERE

Registration Dues: are a charge levied by the Government to register documents relating to the transaction in the Land Register. You can find the actual rates here.

Advance Notices: are a charge levied by the Government to protect a deed intended to be registered in the Land Register.  You can find further information here.

Online ID check: an obligation imposed by the Government upon solicitors is to carry out various checks upon their clients to avoid money laundering and other crimes. For this reason we will ask you for various information throughout the transaction and also obtain an online ID check for which this charge is levied

Searches: in all sale transactions and occasionally purchase transactions searches will require to be obtained. These searches are obtained (depending upon the nature of the transaction) from the Land Register, the Register of Insolvencies, the Register of Companies, the Coal Mining Registers, the Local Authorities (matters such as repairs, alterations, roads and sewage/water) and the Personal Registers. In our quotation we have estimated the search costs but it is impossible to be certain prior to the transaction what the final cost will be. Accordingly these may be higher.

Many First Time Buyers (FTB) will receive a discount depending upon whether they meet several criteria legislated by the Scottish Government

How the discount works

Subject to meeting the criteria, FTBs will not require to pay LBTT where the price of the property the FTB is buying is less than £175000. If the price of the property the FTB is buying is £175000 or more the FTB will receive a discount of £600

What are the FTB conditions?

• the purchase must be for the entire interest in the property;
• the property consists entirely of residential property and includes a house/flat; 
• the purchaser is a first-time buyer who intends to occupy the house/flat as the purchaser’s only or main residence; 
• missives for the purchaser were not concluded prior to 9 February 2018; and
• the transaction relating to the property must stand alone and not be linked to any other transaction; and  the transaction relating is not one to which Additional Dwelling Supplement (ADS – see Changes in Costs) applies

A declaration will require to be signed confirming all of these conditions. McVey and Murricane will charge an additional £50 + VAT to deal with the additional paperwork. You will appreciate that a purchaser will be charged the full LBTT until the declaration and all material have been provided.