Conveyancing Fees - Purchase

Standard Purchase of 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.

Conveyancer's fees and disbursements

Our costs (please add VAT at the current rate): -

Up to £100,000.00 £500.00 plus VAT
From £100,001.00 to £150,000.00 £550.00 plus VAT
From £150,001.00 to £200,000.00 £600.00 plus VAT
From £200,001.00 to £300,000.00 £700.00 plus VAT
From £300,001.00 to £350,000.00 £800.00 plus VAT
From £350,001.00 to £400,000.00 £900.00 plus VAT
From £400,001.00 to £450,000.00 £1,200.00 plus VAT
From £450,001.00 to £500,000.00 £1,500.00 plus VAT
Above £500,001.00 .25% of purchase price plus £200.00
Electronic money transfer fee £20.00 plus VAT at current rate per transfer

Plus additional costs will apply for the following non standard matters:

To obtain Help to Buy ISA Bonus (per ISA) £50.00 plus VAT at current rate
To process Help to Buy or other Equity Share Scheme £300.00 plus VAT at current rate
For purchase of a new Build Property £300.00 plus VAT at current rate
For Leasehold Property £300.00 plus VAT at current rate

In addition to our costs above, disbursements are fees/costs related to your matter that are payable to third parties, such as search fees. Whilst we never know the precise disbursements until receipt of the contract documentation for approval from the Seller’s solicitors, This list is not exhaustive and other disbursements may apply depending on the contract documentation and location of the Property. We will update you on the specific fees upon receipt and review of the contract documentation from the seller's solicitors but we presently anticipate the ones below on a standard transaction. .

  1. Search fees £250.00 approximately for standard Local Authority Search, Drainage/Water Search/Environmental Search depending on location of Property. Additional Searches may be required depending on the location of the Property such as a Coal Mining Search for example at £58.80.
  2. Land Registry searches £3.00 per title plus Land Charges/Bankruptcy Searches £2.00 per name
  3. HM Land Registry fee - If property is already registered, the Land Registry will charge presently up to £50,000 - £20.00, £50,001 to £80,000 - £20.00, £80,001 to £100,000 - £40.00, £100,001 to £200,000 - £95.00, £200,001 to £500,000 - £135.00, £500,001 to £1,000,000 - £270.00. If not registered multiply by 2.
  4. Bank CHAPS fee for each bank transfer £7.00

if Leasehold,

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £50.00 to £200.00 per notice plus VAT.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £50.00 to £200.00 per notice plus VAT
  • Deed of Covenant fee – This fee is provided by the management company for the property and can be difficult to estimate. Often it is between £50.00 and £200.00 plus VAT. Certificate of Compliance fee - To be confirmed upon receipt of the lease, as can range between Notice of Transfer/Charge to Freeholder/Management Company – often betwee £50.00 to £150.00.
  • (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)

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..

Estimated total from £500.00 plus VAT as set out above PLUS disbursements as applicable. Please contact us for a tailored estimate applicable to you and the Property you are purchasing.

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 six to twelve weeks but every transaction is different depending on individual situation..

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 six weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between two and three 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, 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

Stamp Duty Land Tax

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..

Grand total from £500 plus VAT PLUS disbursements as above and Stamp Duty Land Tax/Land Transaction TAX as abve if applicable. Please contact us for a tailored estimate depending on your circumstances and Property.

* Our fee assumes that:

a. this is a standard transaction 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
b. this is the assignment of an existing lease and is not the grant of a new lease
c. the transaction is concluded in a timely manner and no unforeseen complication arise
d. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
e. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

For example, generally non-standard matters which will attract additional costs are: _

Preparation of a Power of Attorney £150.00 plus VAT
Preparation of a Deed of Trust £250.00 plus VAT
Preparation of a Deed of Postponement £200.00 plus VAT
Preparation of a Deed of Variation of a Lease £450.00 plus VAT
Approval of Deed of Variation of Lease £350.00 plus VAT
Preparation of a Legal Charge £250.00 plus VAT
Preparation of a Deed of Rectification £250.00 plus VAT
Approval of a Deed of Variation £200.00 plus VAT
Preparation of Deed of Easement £250.00 plus VAT
Approval of Deed of Easement £200.00 plus VAT
Preparation of a Statutory Declaration £150.00 plus VAT
Approval of a Statutory Declaration £100.00 plus VAT
Preparation of a Deed of Covenant £100.00 plus VAT
Approval of unregistered title £100.00 plus VAT

 

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