Thank you for your interest in our conveyancing services for the purchase of your property.
Our fees cover all of the normal 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).
Freehold Purchase Fees
|
|
Cost
£
|
VAT
£
|
Sub-Total
£
|
|
Our fees based on the property value:-
|
|
|
|
|
£0 - £500,000
|
1,300.00
|
260.00
|
1,560.00
|
|
£500,001 - £650,000
|
1,850.00
|
370.00
|
2,220.00
|
|
£650,001 - £750,000
|
2,150.00
|
430.00
|
2,580.00
|
|
£750,000+
|
0.5% of the Property Value
|
VAT @ 20% of the fees
|
-
|
|
Our fees for acting for a lender where you have a mortgage
|
150.00
|
30.00
|
180.00
|
|
Our fees for completing your Stamp Duty Return
|
75.00
|
15.00
|
90.00
|
|
Search fees (estimated, the fees depend on the location of the property)
|
500.00
|
0.00
|
500.00
|
|
Money transfer administration fee
|
25.00
|
5.00
|
30.00
|
|
HM Land Registry priority search
|
7.60
|
1.20
|
8.80
|
|
Land Charges bankruptcy search (per person)
|
6.50
|
1.30
|
7.80
|
|
Chancel Liability Insurance in lieu of a chancel liability search
|
19.00
|
0
|
19.00
|
|
Estimated total (excluding stamp duty and land registry fees – see below) *
|
1,926.60 to 2,933.10
|
385.32 to 586.62
|
2,311.92 to 3,519.72
|
Leasehold Purchase Fees
|
|
Cost
£
|
VAT
£
|
Sub-Total
£
|
|
Our fees based on the property value:-
|
|
|
|
|
£0 - £500,000
|
1,600.00
|
260.00
|
1,560.00
|
|
£500,001 - £650,000
|
2,150.00
|
370.00
|
2,220.00
|
|
£650,001 - £750,000
|
2,450.00
|
430.00
|
2,580.00
|
|
£750,000+
|
0.6% of the Property Value
|
VAT @ 20% of the fees
|
-
|
|
Our fees for acting for a lender where you have a mortgage
|
150.00
|
30.00
|
180.00
|
|
Our fees for completing your Stamp Duty Return
|
75.00
|
15.00
|
90.00
|
|
Search fees (estimated, the fees depend on the location of the property)
|
500.00
|
0.00
|
500.00
|
|
Money transfer administration fee
|
25.00
|
5.00
|
30.00
|
|
HM Land Registry priority search
|
7.60
|
1.20
|
8.80
|
|
Land Charges bankruptcy search (per person)
|
6.50
|
1.30
|
7.80
|
|
Chancel Liability Insurance in lieu of a chancel liability search
|
19.00
|
0
|
19.00
|
|
Estimated total (excluding stamp duty and land registry fees – see below) *
|
2,226.60 to 3,233.10
|
445.32 to 646.62
|
2,671.92 to 3,879.72
|
* Maximum estimates do not include properties over £750,000
Stamp Duty or Land Transaction 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.
Land Registry Fees
This depends on the purchase price of your property and whether the property is already registered with the Land Registry and/or you are purchasing all or part of the property the seller is selling. You can calculate the amount you will need to pay by using the
Registry Fee Calculator or by reviewing the
Land Registry Fee page.
Leasehold (or freehold service charges/land charges)
If the property is leasehold (or the property is subject to freehold service/land charges) you may have to pay additional fees to the landlord or land charges owner, estimates of these charges are set out below but they do vary. We usually obtain details of these from the freehold owner or land charge owner as early as possible so we can provide you with more specific figures:
• Notice of Assignment Fee. Although fees vary it is often £75 + VAT @ 20% to £250 + VAT @ 20%.
• Notice of Mortgage Fee. Although fees vary it is often £75 + VAT @ 20% to £250 + VAT @ 20%.
• Certificate of Compliance Fee. Although fees vary it is often £150 + VAT @ 20% to £250 + VAT @ 20%.
How long will my house purchase take?
How long it will take from your offer being accepted until you can move into your house will depend on a number of factors. Each purchase is different and depends on all parties and ancillary matters including if there is a chain. The average process takes between 6 to 16 weeks to completion.
It can be quicker or slower, depending on the parties in the chain. For example, if you are a first time buyer, purchasing an empty property with a mortgage in principle, it could take 6 to 8 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer say 16 weeks or more. In such, a situation additional charges would apply.
Exclusions - Is there anything excluded from the above fees?
Our fee estimates are based on a normal purchase of a property so do not include unforeseen matters such as:
• If the transaction is an urgent transaction with short timescales
• Issues with the title deeds
• New build properties or properties that have been built within the last 10 years
• If you are buying part of someone's property known as a transfer of part
• If the property is not registered with the land registry
• If there are planning or building control issues or the documents are not available
• If there are missing documents or missing deeds
• If indemnity policies are needed
• Some additional searches may be needed or requested by you such as mining searches have this will be specific to the property.
• Non-standard mortgages (such as bridging loans, lifetime mortgages/equity releases or mortgages where the lender instructs a separate firm of solicitors)
• Shared ownership properties or right to buy purchases
• A purchase at auction or repossession sale
This is not intended to be an exhaustive list.
Stages of the process
The precise stages involved in the purchase of a residential property vary according to the circumstances and therefore the below is not an exhaustive list. However below the key stages in a normal purchase:
• Take your instructions and give you initial advice
• Check finances are in place to fund your purchase and to obtain your identification
• Receive your search fees from you
• Receive and advise on contract documents
• Carry out searches
• Make any necessary enquiries of seller's solicitor
• Give you advice on all documents and information received
• Report you on your mortgage offer (if you have one)
• Send final contract to you for signature
• Agree completion date (date from which you own the property) which needs to be agreed with the seller and anyone else in the chain.
• Exchange contracts
• Arrange for all monies needed to be received from lender and you
• Complete your purchase
• Deal with payment of Stamp Duty Land Tax
• Deal with application for registration at Land Registry
Our Property Lawyers and their experience:
Simon Finn
Merryn Macnamara
Kevin Craner
Marion Townsend