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Residential Property Pricing Information
This pricing statement covers our typical fees for freehold and leasehold sales and purchase and remortgages.
We typically work on a fixed fee basis, ensuring that you know what the fees will be for your transaction from the outset. If, during the transaction, there is a new development, we will discuss the change in fees with you and agree a way forward.
Our fees cover all the work required to complete the purchase of your residential property, 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.
Fees can typically be broken down as follows:
Legal Fees* - £2,000 - 20,000*
Search fees** - £500- 5,000
HM Land Registry fee** - £20 – 910
Electronic money transfer fee** - £40
Stamp Duty Land Tax** - See calculator
VAT** - Percentage of costs
*Extremely high value or complex transactions may cost more
**Disbursement - costs related to your matter that are payable to third parties
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. To ensure a smooth process we manage the payment of the disbursements on your behalf using money that you have placed on account.
These fees may be subject to change if further information relating to your property becomes available, for example, if you require additional searches such as a Water and Drainage Search, which typically costs £26.40.
Anticipated additional disbursements for Leasehold transactions:
- Notice of Transfer fee, this fee if chargeable is set out in the lease
- Notice of Charge fee (if the property is to be mortgaged), this fee is set out in the lease
- Deed of Covenant fee, this fee is provided by the management company for the property and can be difficult to estimate
- Certificate of Compliance fee – to be confirmed upon receipt of the lease
- Stamp Duty Land Tax
This will depend 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.
We do not undertake tax advice.
The factors which would typically increase the cost of your transaction are:
- The seniority and experience of the lawyer you work with
- The value and characteristics of the property
- Your mortgage provider and their lawyer
- Atypical finance arrangements
- Defective legal title or part of the property is unregistered
- Building regulations or planning permission has not been obtained
- Crucial documents have not been provided to us
- Whether or not the property is new build
- If the property is less than 10 years old
- Rapid exchange or completion deadlines
- Requirements for simultaneous exchange and completion
For any transaction, the timescales are subject to change depending on when your offer is accepted and factors involved such as:
- Number of parties in the chain
- Whether you have a mortgage in place
- Whether you are buying a new build property
- Whether you need a lease extension for a leasehold property
A typical transaction will take between 10-14 weeks. However, if any of the above apply or there are other factors we need to take into consideration, it may increase the time and additional charges may apply. We will discuss these with you so you always have a clear picture of how long things are likely to take and how much they will cost.
- Taking your instructions and give initial advice based on the information you have provided
- Checking finances are in place to fund the purchase and contacting the lender’s solicitors if needed
- Receiving and advising on contract documents
- Undertaking searches
- Obtaining further planning documentation if required
- Making any necessary enquiries of the seller’s solicitor
- Providing advice on all documents and information received
- Advising you of the mortgage offer conditions
- Finalising contracts and sending to you for signature
- Agreeing a completion date (the date from which you will legally own the property)
- Exchanging contracts and notifying you that this has happened
- Ensuring all monies have been received from you and the lender(s)
- Completing the purchase
- Dealing with payment of Stamp Duty/Land Tax
- Completing and submitting an application for registration at the Land Registry