Purchase costs for a property include Stamp Duty Land Tax, Sourcing Fees, third party professional disbursements (legal and surveyor, and occasionally brokerage), pre-letting expenses (including furnishing) and other third party costs relating to purchase. For a Leveraged property investment, purchase costs may also include a debt arrangement fee payable to the bank.
We amortise (depreciate) the purchase costs on a straight line quarterly basis over a five year period.
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