Purchase of a freehold 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.
Fees for a property worth £150,000. All fees are subject to VAT at 20%.
Conveyancer’s fees and disbursements
- Legal fee: £599.00
- SDLT Completion fee: £75.00
- AMLR ID Checks £25.00
Disbursements:
- Search fees: £198.00
- HM Land Registry fee: £100.00
- Electronic money transfer fee: £45.00
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.
Stamp Duty or Land Tax (on purchase)
This depends on the purchase price of your property. You can calculate the amount you need pay by using HMRC’s website or, if the property is located in Wales, by using the 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 into your house will depend on a number of factors. The average process takes between 6-12 weeks.
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 a number of weeks. However, if you are buying a leasehold property that requires an extension of the lease, this can take significantly longer, between 3 to 6 months. In such a situation, additional charges would apply.
Stages of the process
The key stages of the process 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 documents if required;
- make any necessary enquiries if seller’s solicitors;
- 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;
Sale of a Freehold residential property
Legal fees: £499
Land registry searches: £12.50
Anti-fraud check £25.00
Electronic money transfer £35.00
Please note that if you have mortgages to discharge or restrictions to be complied with this may incur additional fees, which you would be advised of in advanced.
How long will my house sale take?
It is difficult at the outset to predict how long this case will take to conclude as a number different factors can affect this, however, an average timescale is 5-8 weeks for freehold transactions, or if the property is shared ownership or leasehold the timescale would be approximately 12-16 weeks.
Stages of the process
The key stages of the process include:
- take your instructions and give you initial advice;
- Deducing title to the buyers solicitor
- Replying to queries raised by the buyers solicitor
- Once agreed, exchange contracts and complete the transfer
- Dealing with transfer of funds between the parties involved
- If there is a charge on the property, then if deemed necessary deal with the discharge of the charge.