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).
The following table provides an indicative guide of our legal costs (i.e our fees, recharges and disbursements) information in respect of different transaction prices as detailed within the first column.We can of course more accurately calculate the total cost for your particular transaction and we should be
pleased to provide you with a written quotation upon request.
| Property Price | Our Basic Fee (plus VAT) | Bank Transfer Fee (plus VAT) | Stamp Duty Filing of Return Fee (plus VAT) | Disbursements (Costs payable to third parties on our clients behalf) | Recharges (Costs incurred providing services to our clients) | |||
| Land Registry Fee (no VAT) | Search Fees (no VAT) Local and Drainage depending on the locality of the property | Land Registry searches (plus VAT) | ||||||
| Up to £200,000 | £995 | £35 | £145 | £100 | £360 approx. | £23.50 approx. | ||
| £200,001 – £400,000 | £1045 | £35 | £145 | £150 | £360 approx. | £23.50 approx. | ||
| £400,001 – £500,000 | £1095 | £35 | £145 | £150 | £360 approx. | £23.50 approx. | ||
| £500,001 – £650,000 | £1195 | £35 | £145 | £295 | £360 approx. | £23.50 approx. | ||
| £650,001 – £900,000 | £1295 | £35 | £145 | £295 | £360 approx. | £23.50 approx. | ||
The Total Cost indicated above is based on the assumption of a standard transaction with no unforeseen issues arising. These can include for example (but are not limited to) defects in title which require remedying and first registration of title if the title is unregistered. Supplemental fees may arise in certain circumstances (please see Note 4 below).
If you are buying a leasehold property additional disbursements are usually incurred (please see Note 5 below).
The Stamp Duty amount has not been included in the Total Cost above as it is dependent on a number of factors including (i) the purchase price of the property (ii) whether you already own another property and (iii) whether you are a First Time Buyer.
You can calculate the amount Stamp Duty applicable to you by using HMRC’s Stamp Duty Calculator.
Supplemental fees may apply (in additional to the above Total Cost) to your transaction in the following circumstances:
| Leasehold Purchase [Private Landlord] | £250 + VAT |
| Leasehold Purchase [Local Authority Landlord] | £250 + VAT |
| Shared Ownership Purchase | £495 + VAT |
| Communal Services Freehold Management | £250 + VAT |
| Acting on behalf of your Mortgage Lender | £250 + VAT |
| Acting on behalf of your Mortgage Lender On a Corporate Purchase | £450 + VAT |
| New Build Acquisition | £595 + VAT |
| Purchase using the Government Help to Buy Scheme | £595 + VAT |
| Gifted Deposits Supplement | £175 + VAT |
| Help to Buy ISA’s/LISA’s | £50 + VAT |
Leasehold disbursements will vary from property to property as they are set by the owners of the freehold and management companies who manage the maintenance of the communal areas.
In general, you can expect to incur the following leasehold disbursements:
| Notice of Transfer | £50 – £75 + VAT |
| Notice of Mortgage | £50 – £75 + VAT |
| Application for Membership of Management Company | £25 – £50 + VAT |
| Deed of Covenant | £50 – £75 + VAT |
| Certificate of Compliance | £50 – £75 + VAT |
These disbursements can differ from the range above depending on the particular leasehold development. We can give you an accurate figure for your particular transaction.
You should also be aware that ground rent and maintenance charges are likely to apply throughout your ownership of a leasehold property.
We will confirm the ground rent and the anticipated maintenance charge as part of our conveyancing work on your behalf.
How long it will take from your offer being accepted until you can move into your property will depend on a number of factors. The average process takes between 8-12 weeks.
It can be quicker or slower, depending on the length of the chain of the transaction. For example, if you are a first-time buyer purchasing a chain free property it could take some 8 weeks. However, if you are buying a leasehold, a new build property using the Government Help to Buy Scheme or your transaction is part of a long chain it could take 12 weeks or more.
The stages involved in a typical residential property transaction include:
Call us on 01279 444456 or for urgent criminal matters when the office is closed please call 07710509991. Alternatively, please use this contact form and one of our team will get back to you as soon as possible.