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Purchase/Sale of a freehold residential property
Our fees cover all of the work* required to complete the purchase of your new home, including dealing with registration at the land registry and dealing with the payment of stamp duty land tax (stamp duty) if the property is in england, or land transaction tax (land tax) if the property you wish to buy is in wales.
On all fixed fee costs below vat is charged at the prevailing rate (20%)
|
Item |
Amount |
Vat |
Subtotal |
|
Legal fees – registered title |
|||
|
Minimum price |
£1,000.00 |
£200.00 |
£1,200.00 |
|
Average fee for a purchase of £500,000 |
£1,300.00 |
£260.00 |
£1,560.00 |
|
Average fee for a purchase of £1,000,000 |
£1,500.00 |
£300.00 |
£1,800.00 |
|
Average fee for a new build (first registration) |
£1,250.00 |
£250.00 |
£1,500.00 |
|
Purchase price above £1,500,000 |
Percentage negotiable fee |
||
|
Disbursements |
|||
|
Hm land registry registration fee (dependant on property value) |
Between £95 – £550 |
No vat payable |
£95 – £550 |
|
Land registry priority search fee |
£3.00 |
£0.00 |
£3.00 |
|
Land charges search fee per person |
£2.00 |
£0.00 |
£2.00 |
|
Lawyer checker fee |
£10.00 |
£0.00 |
10.00 |
|
Stamp duty |
Tbc |
No vat payable |
Tbc |
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as land registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There are certain disbursements which will be set out in the individual lease relating to the property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
These fees may be subject to change if further information relating to your property becomes available.
|
Disbursements |
|||
|
Local authority search (price depends on which local authority) |
Between £125.00 – £350.00 |
Vat @ 20% |
|
|
Environmental search |
£49.00 |
£9.80 |
£58.80 |
|
Drainage & water search |
£52.10 |
£10.42 |
£62.52 |
|
Chancel report/liability search |
£20.00 |
£4.00 |
£24.00 |
|
Hm land registry registration fee (dependant on property value) |
Between £95 – £550 |
£0.00 (no vat payable) |
£95 – £550 |
|
Land registry priority search fee |
£3.00 |
£0.60 |
£3.60 |
|
Land charges search fee per person |
£2.00 |
£0.40 |
£2.40 |
|
Lawyer checker fee |
£10.00 |
£2.00 |
12.00 |
|
Stamp duty |
Tbc |
No vat payable |
Tbc |
Additional fees
|
Item |
Amount |
Vat |
Subtotal |
|
|
|
|
|
|
Id check per person |
£6.00 |
£1.20 |
£7.20 |
|
Electronic money transfer fee (sending purchase monies to sellers’ solicitors) |
£30.00 |
£6.00 |
£36.00 |
Stamp duty or land tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you will need to pay by using hmrc’s website or if the property is located in wales by using the welsh revenue authority’s website here.
Exclusions
We do not undertake tax advice.
Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- If a legal title is defective or part of the property is unregistered
- If you discover building regulations or planning permission has not been obtained
- If crucial documents, we have previously requested from you have not been provided to us
- If the property is a new build
- If the property is less than 10 years old
- If you require to exchange within 6 weeks of instructing us
- If you require completion within 6 weeks of instructing us
- If you require simultaneous exchange and completion
how long will my house purchase/sale take?
For any transaction, the timescales are subject to change depending on when your offer is accepted and factors involved such as:
- Number of parties in the chain
- Whether you have a mortgage in place
- Whether you are buying a new build property
- Whether you need a lease extension for a leasehold property
A typical transaction will take between 10-14 weeks. However, if any of the above apply, or there are other factors we need to take into consideration, it may increase the time by a further 4-6 weeks and additional charges may occur. We will discuss this with you at the earliest opportunity, so you always have a clear picture of how long things are likely to take. It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing a new build property with a mortgage in principle, it could take less time. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, in such, a situation additional charges would apply.
Services included and key stages
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below we have suggested some key stages that you may wish to include:
- Take your instructions and give you initial advice
- Check finances are in place to fund purchase and contact lender’s solicitors if needed
- Receive and advise on contract documents
- Carry out searches
- Obtain further planning documentation if required
- Make any necessary enquiries of seller’s solicitor
- Give you advice on all documents and information received
- Go through conditions of mortgage offer with you
- Send final contract to you for signature
- Agree completion date (date from which you own the property)
- Exchange contracts and notify you that this has happened
- Arrange for all monies needed to be received from lender and you
- Complete purchase
- Deal with payment of stamp duty/land tax
- Deal with application for registration at land registry
We estimate each of these stages take 2.5 days on average to complete but depending on your circumstances can be less or more.
Purchase/Sale of a leasehold residential property
Our fees cover all the work* required to complete the purchase of your new home, including dealing with registration at the land registry and dealing with the payment of stamp duty land tax (stamp duty) if the property is in england, or land transaction tax (land tax) if the property is in wales.
Conveyancer’s fees and disbursements
Leasehold residential property
Our fees cover all the work required to complete the purchase of your new home, including dealing with registration at the land registry and dealing with the payment of stamp duty land tax (stamp duty) if the property is in england, or land transaction tax (land tax) if the property is in wales
On all fixed fee costs below vat is charged at the prevailing rate (20%)
|
Item |
Amount |
Vat |
Subtotal |
|
Legal fees – registered title |
|||
|
Minimum fee |
£1,150.00 |
£230.00 |
£1,380.00 |
|
Average fee for a purchase of £500,000 |
£1,500.00 |
£300.00 |
£1,800.00 |
|
Average fee for a purchase of £1,000,000 |
£1,750.00 |
£350.00 |
£2,100.00 |
|
Average new build fee (first registration) |
£1,500.00 |
£300.00 |
£1,800.00 |
|
Average shared ownership (purchases involving housing associations) |
£1,500.00 |
£300.00 |
£1,800.00 |
|
Purchase price above £1,500,000 |
Percentage fee negotiable |
||
|
|
|||
|
Disbursements |
|||
|
Local authority search (price depends on which local authority) |
Between £125.00 – £350.00 |
Vat @ 20% |
|
|
Environmental search |
£49.00 |
£9.80 |
£58.80 |
|
Drainage & water search |
£52.10 |
£10.42 |
£62.52 |
|
Chancel report/liability search |
£20.00 |
£4.00 |
£24.00 |
|
Hm land registry registration fee (dependant on property value) |
Between £95 – £550 |
£0.00 (no vat payable) |
£95 – £550 |
|
Land registry priority search fee |
£3.00 |
£0.60 |
£3.60 |
|
Land charges search fee per person |
£2.00 |
£0.40 |
£2.40 |
|
Lawyer checker fee |
£10.00 |
£2.00 |
12.00 |
|
Stamp duty |
Tbc |
No vat payable |
Tbc |
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. There are certain disbursements which will be set out in the individual lease relating to the property. The disbursements which we anticipate will apply are set out separately below. This list is not exhaustive and other disbursements may apply depending on the term of the lease. We will update you on the specific fees upon receipt and review of the lease from the seller’s solicitors.
Additional costs
|
Item |
Amount |
Vat |
Subtotal |
|
Id check per person |
£6.00 |
£1.20 |
£7.20 |
|
Electronic money transfer fee (sending purchase monies to sellers’ solicitors) |
£30.00 |
£6.00 |
£36.00 |
Other disbursements*
On all costs below vat is charged at the prevailing rate (20%)
|
Item |
Range from |
Range to |
Plus vat |
|
Notice of transfer fee, this fee if chargeable is set out in the lease. Often the fee is: |
£25.00 |
£200.00 |
Vat @ 20% |
|
Notice of charge fee (if the property is to be mortgaged), this fee is set out in the lease. Often the fee is: |
£25.00 |
£200.00 |
Vat @ 20% |
|
Deed of covenant fee, this fee is provided by the management company for the property and can be difficult to estimate. Often the fee is: |
£25.00 |
£200.00 |
Vat @ 20% |
|
Certificate of compliance fee – to be confirm upon receipt of the lease, as the range can be |
£25.00 |
£200.00 |
Vat @ 20% |
*these fees vary from property to property and can on occasion be significantly more than the ranges given above. We can give you an accurate figure once we have sight of your specific documents.
You should also be aware that ground rent and service charge are likely to apply throughout your ownership of the property. We will confirm the ground rent and the anticipated service charge as soon as this we receive this information.