Do I need to add a purpose code for all property-related payments?
Yes. This requirement applies to all property purchases made via CHAPS payments. This includes residential and commercial property transactions.
| Property codes for specific payments – examples/guidance | |
| Code | Payment examples |
| PCOM | Stamp duty & service charge Planning consultants & third-party fees, NHBC certificate costs, indemnity payments |
| HLST | Option fee |
| PDEP | The final payment of a property purchase would be PCOM, but if it were a deposit relating to the property purchase, then that would be PDEP |
| PLRF | Lease extension and freehold claims |