Residential Conveyancing Fees - Purchase

Legal Fees are the amount you will be required to pay for all the work required to complete the purchase of your residential property.  

Our fees cover all the work required to complete a standard purchase, including dealing with third parties, dealing with standard mortgage lenders’ enquiries, 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. 

We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction.  

VAT, currently 20%, will be payable on all our fees and some disbursements, and we will clearly confirm which disbursements carry VAT in formal quotation or as we advise you to incur them.  

Please note for properties over £1,000.000.00 we typically charge on a percentage basis which is 0.25% of the purchase price plus VAT at 20%, depending upon the complexity of the transaction.

Our fees are dependent on the agreed purchase price of the property, the location and when other complex factors are involved (such as transactions that involve the sale of multiple dwellings or land) to reflect the proportionate risk of carrying out higher-value transactions for our clients. Please contact us to discuss a bespoke estimate Tel: (01524) 386500.

Our Fees

Guidance on conveyancing fees for all other properties prices can be found below.

                                        Freehold                     

Up to £250,0000               £750.00 +VAT at 20% (£900)    

£250,001-£500,000         £850.00 +VAT at 20% (£1020)  

£500,001-£1m                  £900.00 +VAT at 20% (£1080)  

Leasehold                 

Up to £250,0000               £850.00 +VAT at 20% (£1020)    

£250,001-£500,000         £950.00 +VAT at 20% (£1140)  

£500,001-£1m                  £1,050.00 +VAT at 20% (£1260)

London

Up to £250,0000              £1000 +VAT at 20% (£1200)

£250,001-£500,000        £1120 +VAT at 20% (£1344)

£500,001-£1m                 £1195 +VAT at 20% (£1434)

Other Purchases

New build (No HTB)        £1400.00 +VAT at 20% (£1680)

New build with HTB         £1700.00 +VAT at 20% (£2040)

Shared Ownership          Additional £350.00 +VAT at 20% (£420)

Right to Buy                    See Leasehold fees

Auction                            Additional £300.00 +VAT at 20% (£360)

Equity Mortgage             Additional £250.00 +VAT at 20% (£300)

Staircasing                      Additional £850 +VAT at 20% (£1020)

Others

Declaration of Trust        £250.00 +VAT at 20% (£300)

Discharge of HTB charge  £650.00 +VAT at 20% (£780)

Lifetime ISA                     £50.00 +VAT at 20% (£60)

Forces HTB                     £150.00 +VAT at 20% (£180)

Buying in company         Additional £50.00 +VAT at 20% (£60)

Below, we detail what services are covered in our standard fee. 

The final quote will depend on the value and location of the property and the complexity of the transaction. We would warn you that there are some charges made by others which we will not be able to ascertain until we are instructed and make the necessary enquiries.  

If at any stage our fees change, we will notify you and discuss the reason for any changes. This would typically occur if you change your instructions or your case involves an unforeseen complexity. 

Our fees 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 require 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 complications arise

3.      All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation

4.      No indemnity polices are required. Additional disbursements may apply if indemnity polices are required.

Purchase Disbursements and Other Costs

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.

You will be provided with a full list of disbursements in our formal quotation. If you need to incur any further disbursements during your case, you will be notified in advance of the reason and the amount. 

Typical disbursements and other costs that may apply in your matter will include: -  

• Search fees £258.20 (Local Authority Search, Water & Drainage Search, Environmental Search) inc. VAT at 20%.

• Charges in undertaking AML checks via Thirdfort - £15.00 inc. VAT at 20%.

There is no VAT applicable on the disbursements below.

• Land Registry search £7.00

• Bankruptcy search £6.00 per name

HM Land Registry Fee

Land Registry registration fee on a scale dependent on price.

Property Value Land Registry Fee

£0 to £80,000    £20

£80,001 to £100,000       £40

£100,001 to £200,000     £100

£200,001 to £500,000     £150

£500,001 to £1,000,000  £295

£1,000,001 and over        £500

Information on the fees chargeable by the land registry can be found here https://www.gov.uk/guidance/hm-land-registry-registration-services-fees    

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 as per link https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax/#/intro or if the property is located in Wales by using the Welsh Revenue Authority’s website here https://beta.gov.wales/land-transaction-tax-calculator

Anticipated disbursements for a leasehold purchase

There may be further disbursements for a Leasehold purchase or the purchase of a freehold property where there is a Management Company which if chargeable is set out in the Lease or Transfer and usually paid to the Landlord or Management Company. We shall not know what charges will be raised, or the cost of these, until we receive the Lease and further Leasehold information from the Landlord or Management Company. However typical additional Leasehold disbursements are as follows: 

• Notice of Transfer fee: This fee, if chargeable, is set out in the Lease. Usually the fee is between £30.00 – £120.00. 

• Notice of Charge fee (if the property is to be mortgaged): This fee is set out in the Lease. Usually the fee is between £30.00 – £120.00. 

• Deed of Covenant fee: This fee is charged by the Management Company for the property and can be difficult to estimate. Usually it is between £50.00 – £150.00. 

• Certificate of Compliance fee: To be confirmed upon receipt of the Lease and can range between £50.00 – £150.00 

These fees are set by the management company / freeholder and can vary from property to property. They can, on occasion, be significantly more than the ranges given above and VAT may be charged. 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 we receive this information. 

Stages of the purchase 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

Other Factors and Exclusions

Our fees are fixed, however there may be factors which would typically increase the cost of the fees estimated above. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided. Other Factors to consider which may affect your Legal Fees and disbursements are: 

• Value of the property 

• Where the property is situated  

• Overseas client  

• First-time buyer 

• Listed buildings 

• First registration of title

• In purchase cases, whether primary residence, buy to let or second/holiday home

• Multiple owners 

• Shared ownership scheme

• Using a help to buy scheme, and whether it is an equity loan or ISA

• Purchase under right to buy 

• Property has been repossessed

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. 

How long will my house purchase take?

How long it will take will depend on a number of factors. The average process takes 10+ weeks. It can be quicker or slower, depending on the parties in the chain. However, if you are buying a Leasehold property that requires an extension of the Lease, this can take significantly longer, between 2 and 6 months. In such a situation, additional charges would apply for the work involved in extending the Lease. 

Matters that can typically delay a transaction include delays in searches, issues with a mortgage offer, issues raised in a survey or delays from the other party or the other parties’ solicitors.  

Who will deal with my matter? 

The members of our conveyancing department and links to their profiles can be found below. Pippa Weld-Blundell is the Supervisor for the conveyancing department.