Purchase 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.
We will provide a specific quote and this is based upon your purchase price and where you are buying. This is delivered to you immediately upon request.
Conveyancer's fees and disbursements
- Legal fees Start at £375 depending on purchase price value (please visit our conveyancing costs and calculator here)
- Search fees £245.00 typically depending on the package required.
- HM Land Registry fee £ Variable depends on Purchase Price and the number of purchasers
- Electronic money transfer fee £30.00
- VAT payable at 20%
Referral Fees – We do not generally pay regular referral fees but if one applies will always make this clear when you receive your quote.
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.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property and whether or not you own more than one 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..
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 4 – 12 weeks.
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 18 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such a situation additional charges would apply.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, this will typically 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
- Meet with you to deal with signature of the documents
- 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
Assumptions and Quote
This transaction is accepted and quoted on the basis that:
- this is a standard transaction held under a single freehold title and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- One contract is submitted to one purchaser
- The purchase will be on the basis of an unconditional contract and the property is acquired with vacant possession;
- Completion takes place on the date agreed in the contract
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
If it becomes apparent that there are unforeseen circumstances in connection with the purchase, we may have to increase our charges, but if that is the case, we shall inform you and enclose details of our charging rate before we incur any additional costs. It may be the case that documents have been mislaid and need to be replaced or Declarations of Trust Deeds may be required to allow the transaction to proceed. Again, we will advise you if such additional fees and disbursements apply.
Purchase 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
- Legal fees start at £375 depending on purchase price value + additional charge for leasehold of £100 + Vat
- Search fees £245.00 typically depending on the package required.
- HM Land Registry fee £ Variable depends on Purchase Price and the number of purchasers
- Electronic money transfer fee £30.00
- VAT payable at 20%
Referral Fees – We do not generally pay regular referral fees but if one applies will always make this clear when you receive your quote.
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.
Anticipated Disbursements*
*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.
We provide exact prices and all likely additional disbursements at the time of quote.
Stamp Duty Land Tax
This depends on the purchase price of your property and whether you own more than one 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.
The precise stages involved in the purchase of a residential leasehold 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 and the landlord or management company.
- Give you advice on all documents and information received
- Go through conditions of mortgage offer
- Meet with you to deal with signature of documents
- Draft Transfer
- Obtain pre-completion searches
- 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
- Deal with any notices to the Landlord
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your house will depend on a number of factors. The average process takes between 4-12 weeks. 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 18 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges would apply.
* Our fee assumes that:
- this is a standard transaction held under a single leasehold title and that no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction
- this is the assignment of an existing lease and is not the grant of a new lease
- the transaction is concluded in a timely manner and no unforeseen complication arise
- all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
- no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.
- That we do not need to draft deeds of covenant
Remortgage costs up to £100,000.
On this information we expect our charges will be:
| On your Remortgage |
£350.00 |
| Bank transfer fee |
£15.00 |
| Our charges |
£365.00 |
in addition we will have to make a number of payments to government and others including (at present rates):
| VAT on our charges |
£70.00 |
| VAT on bank transfer fee |
£3.00 |
| Bank transfer fee |
£12.00 |
| Office Copy Entries |
£6.00 |
| Indemnity Search Ins |
£20.00 (provided the Lender will accept) |
| Land Charges Search |
£4.00 |
| Land Registry Search |
£3.00 |
| Land Registry Fee |
£20.00 |
| Payments to others |
£138.00 |
SUMMARY
| Our Charges |
365.00 |
| Payments to Other |
138.00 |
| TOTAL |
503.00 |
FULL SEARCHES £271.40
Remortgage costs from £100,001 - £200,000
On this information we expect our charges will be:
| On your Remortgage |
£375.00 |
| Bank transfer fee |
£15.00 |
| Our charges |
£390.00 |
in addition we will have to make a number of payments to government and others including (at present rates):
| VAT on our charges |
£75.00 |
| VAT on bank transfer fee |
£3.00 |
| Bank transfer fee |
£12.00 |
| Office Copy Entries |
£6.00 |
| Indemnity Search Ins |
£20.00 (provided the Lender will accept) |
| Land Charges Search |
£4.00 |
| Land Registry Search |
£3.00 |
| Land Registry Fee |
£30.00 |
| Payments to others |
£153.00 |
SUMMARY
| Our Charges |
390.00 |
| Payments to Other |
153.00 |
| TOTAL |
543.00 |
FULL SEARCHES £271.40
Remortgage costs from £200,001 - £300,000
On this information we expect our charges will be:
| On your Remortgage |
£400.00 |
| Bank transfer fee |
£15.00 |
| Our charges |
£415.00 |
in addition we will have to make a number of payments to government and others including (at present rates):
| VAT on our charges |
£80.00 |
| VAT on bank transfer fee |
£3.00 |
| Bank transfer fee |
£12.00 |
| Office Copy Entries |
£6.00 |
| Indemnity Search Ins |
£24.00 (provided the Lender will accept) |
| Land Charges Search |
£4.00 |
| Land Registry Search |
£3.00 |
| Land Registry Fee |
£30.00 |
| Payments to others |
£162.00 |
SUMMARY
| Our Charges |
415.00 |
| Payments to Other |
162.00 |
| TOTAL |
577.00 |
FULL SEARCHES £271.40
