Charges for Purchase of a Freehold Residential Property

Our fees generally cover all work required to complete the purchase of your new home, including dealing with both registration at the Land Registry and 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.

Generally if you are taking out a mortgage we will also be acting for your lender for which we make no additional charge.  If the lender insists on instructing a separate firm you will pay their fees in addition to ours. These fees also apply to donors/giftors.

• Conveyancer’s fees (our charges)

Property value:

Up to £300,000 from £950 plus VAT

Over £300,000 from £1,000 plus VAT

If your transaction should not proceed to completion for any reason a charge will be made based on how much work has been carried out. We do not work on a no completion no fee basis.

• Disbursements

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.

• • Bank transfer fee £2.50 (per transfer)
  • Lender’s Fee: some lenders will charge a fee. Where it is charged it is usually in the region of £42.00.
  • ID check £15.00 (plus VAT per person)

• Search fees

These can vary slightly by area and there may be additional search fees if there are particular local issues or if it is a requirement of the lender.  In most cases total search fees will not exceed £200 – £350.

• HM Land Registry fees

These vary dependent upon the value of the property.  Full details of up to date pricing can be found on HM Land Registry’s website at www.gov.uk/guidance/hm-land-registry-registration-service-fees#scale-1-fees.  For most purchases the chargeable fee will be the fee shown in the column marked ‘Apply using the portal or Business Gateway for transfers or surrenders which affect
the whole of a registered title.’  For ease of reference the majority of transactions attract a fee of £150.00.

• Anti-Money Laundering Check

We are required by the Solicitors Regulation Authority to carry out anti-money laundering (AML) checks on all new and existing clients. This is charged at £7.20 per person.

• Stamp Duty or Land 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 or if the property is located in Wales by using the Welsh Revenue Authority’s website here.

• Estimated total

As shown, costs vary depending upon the purchase price and other factors, however, as a guide, the costs for someone who is purchasing a freehold property for £250,000 with a mortgage, which is not their first property or an additional/buy to let property (as these factors will affect the Stamp Duty costs), and does not fall into any of the exceptions shown here, would be:

1. Conveyancing Fees £950.00
2. VAT on Fees £190.00
3. Land Registry Fees £150.00
4. Bank Transfer Fee £2.50
5. AML Fee £7.20
6. Searches £300.00 (approx)
7. Stamp Duty £2,500.00 
8. Lenders’ Fee £42.00
9. ID Check £15.00

Total costs £4,156.70

• 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. 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 in principle, it could take as little as 6 weeks depending on the stage of construction. However, if you are buying an older property requiring more detailed investigation, this can take significantly longer, between 3 and 6 months. In such, a situation additional charges may apply.  The average process takes between 10-16 weeks but will also depend on the length of the ‘chain’, if any.

• Stages of the process

The precise stages involved in the purchase of a residential property vary according to the circumstances. However in general the process will proceed through the following stages:

• Take your instructions, and give you initial advice, including if necessary on joint ownership
• Verify your ID and carry out Anti-Money Laundering check
• Check finances are in place to fund purchase and contact lender’s solicitors if needed
• Review 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 including your mortgage offer
• Send documents to you for signature (or meet with you to do so)
• 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
• Obtain pre-completion searches
• Complete purchase
• Deal with payment of Stamp Duty/Land Tax
• Deal with application for registration at Land Registry

The information contained in this document is provided to give you an idea of what your costs will be.  If you are thinking of instructing us please contact us and we will give you an individual quote. If you instruct us to act on your behalf the information contained in our client care and attached quote at the outset, together with any updates that may become necessary in light of additional/changed information, will supersede any information contained in this document.