Conveyancing Fees

Purchase of a 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.

Stamp Duty or Land Tax (on purchase)

This depends on the purchase price of your property, whether you are buying a second or subsequent property or whether you are a first time buyer. 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.

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, including how many properties are in the chain, whether people need mortgages, whether there are any issues with the titles to the property, whether there are any issues with the searches.  The average process takes anywhere between 6 – 12 weeks for a straightforward matter.

It can be quicker or slower, depending on the parties in the chain. For example, if you are a cash buyer purchasing a freehold property it could take as little as 4-6 weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, often between 2 and 4 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

Purchase of a freehold property

For example our conveyancer’s fees and disbursements on the purchase of a freehold property up to £250,000 would be:

  • Legal fee £750 plus VAT
  • Search fees £162.20
  • HM Land Registry fee – variable please see the Land Registry website (attach link)
  • Bankruptcy search if obtaining a mortgage £2 per name
  • Land Registry search £3 per title
  • Electronic money transfer fee £30 plus VAT
  • Stamp Duty Land Tax – variable please see the HMRC website (attach link)
  • Anti-money Laundering check from £6 plus VAT

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.

Items which could increase our costs

We reserve the right to vary our costs depending on a number of factors including, but not limited to:

  • If the legal title is defective and we need to obtain insurance.
  • If the title is unregistered.
  • If we need to obtain building regulation or planning permission documents.
  • If the property is shared ownership.
  • If the property is being purchased by a company.
  • If you are buying with a Help to Buy ISA.
  • If there are multiple lenders.
  • If the lender requires their own solicitor.
  • If the property is a new build.
  • If a lease extension is required.
  • The value of the property.

Purchase of a leasehold 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.

For example conveyancer’s fees and disbursements on the purchase of a leasehold property up to £250,000 would be:

  • Legal fee £850 plus VAT
  • Search fees £162.20
  • HM Land Registry fee – variable please see the Land Registry website (attach link)
  • Bankruptcy search if obtaining a mortgage £2 per name
  • Land Registry search £3 per title
  • Electronic money transfer fee £30 plus VAT
  • Stamp Duty Land Tax – variable please see the HMRC website (attach link)
  • Anti-money Laundering check from £6 plus VAT

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*

  • Notice of Transfer fee – This fee if chargeable is set out in the lease. Often the fee is between £25 – £250.
  • Notice of Charge fee (if the property is to be mortgaged) – This fee is set out in the lease. Often the fee is between £25 – £250.
  • 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 £25 and £250.
  • Certificate of Compliance fee – To be confirmed upon receipt of the lease, as can range between £25 – £250.

*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.

All quoted costs assume that:

  1. 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
  2. the transaction is concluded in a timely manner and no unforeseen complication arise
  3. all parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
  4. no indemnity policies are required. Additional disbursements may apply if indemnity policies are required.

Please contact us for your individual quote.