Gartloch Village

T: 07856 591 522

Buying Costs - Gartloch Village

When you are looking at purchasing a new home, it is always a good idea to sit down and work out all of the costs that will be involved with additional outlays.

Reservation Fee

Builders deposit on conclusion of missive

Legal costs & outlays plus vat at 20%

Some banks and building societies may charge a product fee for setting up your mortgage; they may also add the cost of a surveyors report

LBTT; Land and building Transaction Tax which will be payable on a purchase above £145,000.

An example of LBTT;

Purchase Price;                                                      LBTT Rate

Up to £145,000                                                       0%

Above £145,000 to £250,000                               2%

Above £250,000 to £325,000                               5%

Above £325,000 to £750,000                              10%

If the purchase price is above the nil rate tax band of £145,000, LBTT is charged at the appropriate rate on the amount of the chargeable consideration within the relevant bands. For example a house bought at £280,000 is charged at;

*0% for the first £145,000

*2% for the next £105,000

*5% for the next £30,000

* This means that £3,600 must be paid in LBTT

Buying Options - Gartloch Village

Many people are looking to purchase a home, for some this will be their first home which can be a daunting thought not knowing what the process is, and where to start. There will also be second time buyers looking to move up the property ladder, and may have a property to sell.

At Gartloch Village you are in the best possible hands as we are fully trained to help you with your requirements whether it is to advise you on your next step with arranging to have your own property valued by local Estate agents, or perhaps Part Exchange or Assisted Move may be an option for you.

Gartloch Village will take you by the hand through the buying process, to try and make the process as easy and trouble free as possible.

We can direct you to a team of independent financial advisors who are new homes mortgage specialists. They will sit down with you and take you through all the options open to you.

New homes mortgage specialists offer a range of benefits and there is no cost for their service as they are paid by lenders. Their role is to find the best mortgage offer for you that is both affordable and fits your circumstances.

We can also give you details of solicitors who can help take you through the legal process in helping with your purchase.

Help To Buy Scotland may also be an option for you, here is an example of how Help To Buy Scotland may work;

Help to buy is a Government backed scheme to help buyers secure a mortgage on a new build home.

Help To Buy Scotland is an Equity Loan

This means that purchasers can own a home with only 5% deposit

Based on a home at £150,000

5% Deposit from You

Up to 15% Help To Buy Loan

80% Mortgage from bank or building society.

An example of this;

Purchase price of new home-            £150,000

Deposit from Home buyer-                £    7,500

Mortgage from qualified Lender-      £120,000

Scottish Government HTB of 15%     £  22,500

Help to buy Scotland offers up to 15% of the purchase price through an equity loan by the Scottish Government. The remaining 85% is made up through a 5% deposit contribution from the purchaser and 80% mortgage from a bank or building society.

2017/2018 The max purchase price on a home with HTB is; £200,000

2018/2019 The max purchase price on a home with HTB is; £200,000

You will need to make sure that you have funds to pay for the following additional costs;

A reservation fee, payable on reservation of your new home.

A builders deposit will be required on conclusion of missive, this will be a percentage of the price of the property that you are purchasing. The total of builders deposit along with your reservation fee will be deducted from the purchase price of your property on the date of settlement.

A deposit for lender, minimum of 5% if you are looking at Help To Buy.

Land & buildings transaction tax.

Solicitor’s fees, outlays plus vat.



Subject to certain conditions, first-time buyer relief is available to any first-time buyers who acquire a dwelling which they intend to occupy as their only or main residence.

The relief only applies to transactions where the contract is entered into on or after the 9th of February 2018 and where the effective date of the transaction is on or after the 30th of June 2018.

The first-time buyer claims the relief at the point when they submit an LBTT return in relation to the Land transaction, or in an amendment of that return.

Where there is more than one buyer the relief will be available only if each buyer meets all the relevant criteria. If any of the buyers do not meet all the conditions, then the relief will not be available.



The relief effectively raises the zero tax threshold for first time buyers from £145,000 to £175,000.

First time buyers buying a property above £175,000 will also benefit from the relief on the portion of the price below the threshold. This means all first-time buyers will benefit from the relief by up to £600.


Below sets out illustrative examples of the amount of tax which would be due for various transactions with and without the relief.


PURCHASE PRICE                                      TAX DUE                                             TAX DUE-WITHOUT RELIEF


£150,000                                                    £0                                                            £100

£175,000                                                    £0                                                            £600

£200,000                                                    £500                                                       £1,100

£250,000                                                    £1,500                                                    £2,100


The LBTT on Property Transactions calculator has been updated to assist first-time buyers and their agents in determining how much tax will be payable on their purchase after the relief has been claimed.

Arrange a Call Back

Peace of Mind

Buying a brand new home is an exciting experience and we aim to make the whole process as stress free as possible.

Buying a Gartloch Village home comes with peace of mind from knowing that there is a 10 year insurance backed warranty on your home.

Feel safe and secure in your new home as we build to a high standard for everything from structure to ventilation, sound insulation, electrical safety and fire safety.

Find out more >>

Contact Us

Gartloch Village
13 Newton Place
G3 7PR

T: 07856 591 522

C 2017 Gartloch Village Ltd. New Build Properties, Gartloch Village. Web Design By Fraser Web Design