Purchase of a freehold 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 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
- Legal fees: These will vary depending on the purchase price of the property but on average will be £1950 plus £390 VAT, subject to a minimum of £1250 plus £250 VAT
- Search Fees: Approximately £300-£500 plus £60-£100 VAT
- Land Registry Fee: This will depend on the purchase price of the property but on average will be £295
- Bank Transfer Fee: £30 plus £6 VAT per transfer
- Admin/copying Fees: £30 plus £6 VAT
- Land Registry Search: £3 plus £0.60 VAT
- Bankruptcy Search: £2 plus £0.40 VAT per individual
- Land Transaction Return Fee: £50 plus £10 VAT
- Client due diligence AML search fee including biometic ID check where it is not possible to attend our offices: £25 plus £5 VAT per individual
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 Land Tax
The amount payable will depend on the purchase price of the property and will also depend on other factors including:
– Whether you are a first time buyer
– Whether the property you are buying is a second home, a principal residence or a buy to let
You can calculate the amount you will need to pay by using the HMRC on line calculator:
https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro
How long will my house purchase take?
How long it will take from your offer being accepted until you can move in to your new home will depend on a number of factors, but the average process takes between 8-12 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 agreed in principle, it could 4-6 weeks. However, if you are buying a leasehold property that requires a lease extension, it can take significantly longer. In such circumstances, additional charges would apply.
Stages of the process
The work that we will undertake on your behalf includes the following:
-Take your instructions and give you initial advice
-Check finances are in place to fund the purchase and contact the lender’s solicitors if needed
-Receive and advise on contract documents
-Carry out searches
-Obtain further planning documentation if required
-Make necessary enquiries of the seller’s solicitor
-Check mortgage conditions
-Send final contract to you for signature with a report
-Agree completion date
-Exchange contracts
-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
Our residential conveyancers are as follows:
Their qualification and position can be found by clicking on the link below.
*Our fee assumes that it 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.