Purchase Price Information
Please note that the fees listed below are a guide and the best way to get an accurate quote for your transaction is to contact a member of our experienced conveyancing solicitors.
Our starting fees for a purchase are from £500.00 plus 20% VAT. Our fees vary dependent upon the value of the property that you are purchasing. Our additional fees which may also apply are:-
Telegraphic Transfer Charge – £25.00 + 20% VAT
Anti-Money Laundering ID Check – £6.00 plus 20% VAT
Stamp Duty Land Tax Return – £50.00 plus 20% VAT
Shared ownership – £200 + 20% VAT
Help to Buy Equity Loan – £250 + 20% VAT
Leasehold House – £100 + 20% VAT
Leasehold Flat – £200.00 + 20% VAT
Declaration of Trust – £150 + 20% VAT
Help to Buy ISA (per ISA) – £50 + 20% VAT
Gifted Deposit – £50 + 20% VAT
Search Fees- £220.00 – £250.00 plus 20% VAT (on average – depends on the local authority)
Bankruptcy Search – £2.00 per person
Official Search – £3.00
Land Registry Fee – This is based on the value of the purchase and you can get confirmation of your fee here www.gov.uk/guidance/hm-land-registry-registration-services-fees If the property that you are purchasing is unregistered or a new build the Land Registry will charge the higher of the listed fees for the completion of the registration.
Stamp Duty / Land Transaction Tax – This is again based on the value of the property and whether the property is located in England or Wales. The rate of stamp duty or land tax payable can vary if you are a first time buyer or you are buying an additional property subject to the higher rate.
You can calculate the amount of stamp duty payable in England here:- https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax
You can calculate the amount of land transaction tax payable in Wales here:- https://beta.gov.wales/land-transaction-tax-calculator
In respect of leasehold matters other disbursements may apply dependent upon the terms of the lease and the team will update you upon the specific fees upon receipt and review of the lease and relevant information from the seller’s solicitors. It is impossible to advise you of the estimated costs but we will update you as and when such expenses are likely to occur and the cost for the same:-
• Notice of Transfer Fee
• Notice of Charge Fee (if the property is to be mortgaged)
• Deed of Covenant Fee
• Certificate of Compliance Fee
You should also be aware that ground rent and service charges are likely to apply throughout the ownership of the property. We will confirm the ground rent and the anticipated service charges as soon as we receive this information.
Our fees assume the following:-
• That 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;
• In leasehold matters, there 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 complications 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 no part of the property is unregistered;
• Building regulations or planning permission have been obtained;
• Any crucial documents that we have previously requested have been sent in by you.
Should any of the above factors arise then the fixed fee will no longer apply and we will provide you with a revised cost of work.
Please note that we do not offer a no purchase no fee service. If your transaction does not proceed to completion then we reserve the right to charge a fee proportionate to the amount of work carried out.
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 upon a number of factors and can be quicker or slower depending upon on the parties in the chain. The average process takes between 8-12 weeks.
Please note that this an estimate only and is based upon the transaction being straightforward with no complex issues and is calculated from the point that we receive all completed paperwork from you together with the payment on account which allows us to commence work on your matter. It is always our aim to ensure that your transaction is progressed as swiftly as possible with the minimum of delays and within the shortest amount of time possible.
The precise stages involved in the purchase of a residential property vary according to the circumstances. However, below are the key stages of the purchase of a property to assist you to understand the process:-
• 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 contact documents
• Carry out searches
• Obtain further planning documentation if required
• Make any necessary enquiries of the seller’s solicitor
• Give you advice on all documents and information received
• Go through conditions of a mortgage offer with you
• Send final contract to you for signature
• Draft transfer
• 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